south jersey duplex investing for cash flow
Hi all,
First time real estate investor here. I'm looking to get involved in a turn key duplex in south jersey selling for 140000 and currently rented for 850 per unit. The unit has been on the market for 2 months. Taxes on the property are 4600 per year. My plan is to put 10000 down on the house. When I plug the numbers into a mortgage calculator accounting for taxes and PMI and budgeting 150$ per month for repairs I'm getting an all in cost of 1300 per month. Do these numbers make sense for someone looking to invest For cash flow in a relatively passive manner. If not does anyone have any suggestions on how to refine my search a little? Am I missing any key factors in my evaluation? Much thanks in advance!