I am new here and it would be very helpful to hear your feedback. I live in LA and have an accepted offer in Bakersfield to buy a duplex. Both units 2/1 (2'tandem' bedrooms, one of them is very small, like a sun-room). Currently rented for 750 each unit.Price of the duplex is 185K. It is in a older area, house build in 1925 and has a charming fire place and retro feel to it. There is a garage with kitchen and appliances aka 'guest house' potential rental as a studio , currently is not rented but potentially could be for 450-500 with some tiling and flooring fix.The electrical of the garage is tied to one of the unit.
Need advise in following:
- How would you approach the possibility of renting the garage: owner pays bill for both and rise the monthly rent? (or rent it out to a potential tenants as together deal 2 + separate 1 and tenants pay the bill? Is it even realistic?
- Will the fact that the building is 1925 is a negative in appreciation or it won't matter in a 'charming' older area?
- Does this deal 185K/1500 monthly +plus guest house sounds as a good deal?
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