Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

8
Posts
3
Votes
Sujith C.
  • Austin, TX
3
Votes |
8
Posts

Advice please! First time investor

Sujith C.
  • Austin, TX
Posted
Hi, I am a newbie and yet to purchase my first rental property. I found a foreclosed duplex for which comparable rents in the area are $800-$1000. Property is about 20yrs old. But looking at the stats my agent sent, income levels in that area average about $30k with mostly construction workers. Purchase price is $70. Leases are signed in 5-30 days when put on market. Can experts here please answer few of my questions? A) Is this a good investment given market price for similar properties is about $185K. I would like to rehab it and buy and hold. B) foundation is block and beam crawl space. Looking at the pictures it might need some repair. Is this kind of foundation advisable for investment? C) Most of the properties on that street look worn out. Is it good I spend a little more and get it attractive or should I just touch it up with required and necessary things and lease it out? Thanks, Sujith

Loading replies...