About to make my first jump. Go for it or nah?
Deciding to go for this deal for a rental use.
Still have no agent to represent me for this as this is my first deal approach.
Duplex 4BR 2BA each
Listed Price: $99,900
2 Tenants currently renting $800 & $750
So using the 50% rule
Income $1550/ 2 = $775
30 year 10% down (parents sparing me money) with 4.1% interest $435 monthly
$775 - mortgage ($435) = $340 Cash Flow.
Now the area is not the nicest of Atlanta (Fulton county)
No HOA fee
Should I go for it?