Would you rather buy...
I've been looking at duplexes recently and came across two in my area that I might be interested in. They both have the same asking price, and both have roughly the same rents, and cash flow numbers look good for both. Here are the differences:
Duplex #1:
- Traditional financing at 20% down
- $5K of rehab total to be rent ready, $5K more over the first year or so
- Safe but stable lower income neighborhood.
Duplex #2
- Seller Financing available with 1% down
- $10K rehab on both sides tor both sides at least.
- Rather bad (but not worst) neighborhood.
Which do you see as the better deal, and why? Both? Neither? Thanks for your input in advance.