Here are the numbers on a duplex I am looking at. I believe I have good accurate numbers plugged in every where. Taking everything into account and some numbers are estimated high it figures to make $125 per door after we pay property management. Can I make this deal work? If not, lets look at the a little different. What is the most you would pay to make it work?
It is kind of hard to read the number in that format.... but from what I can tell purchase price is $115k and rent is $1500. You included an ample amount of vacancy and repair so I think you are good there.
I am surprised to see how much you are paying for insurance as that is almost 4x the amount we pay for a similar priced property.
@Elliot Smith it is in a 100 year flood plain. That is why the high insurance.
I went and looked at it last night. Cracks in just about every corner of the house and above doors. Some cracks in the tile in both kitchens. It really looks like foundation problems. Driveways were cracked very badly with 1 and 2 inch gaps in some places.
I get you ya that sounds like to much risk for not a huge cash flow IMP.
Yes, we are passing on it after looking at it. Moving onto the next one.
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