Are those numbers right? $154k in repairs?
@Geordy Rostad I just looked at it. I guess I entered the number there by mistake. I really appreciate your help. Now, it makes more sense and it looks like a good investment since the ROI its about 16% and each unit brings more than $100 each on monthly cash flow. I am looking to buy my first rental property and hoping to find one soon. I also need to find a traditional loan so Ill have to be owner-occupied, do you think, it will still be a good deal even with just one tenant?
You have to live somewhere right? If you live in a duplex and you are making payments towards it, your payment will stay the same while your tenant's rent will increase over the years.
I think that's an excellent idea for a first property and I really wish I had done the same thing.
@Geordy Rostad I really really really appreciate your feedback. I am very new at this and I'm a little (well, A lot !) nervous about getting into real estate. I have recently been reading and listening to real estate books and podcast and there is a lot of information on sometimes it does not answer all my questions. I just want to make the right decision and learn and build from there. Your feedback definitely helps me a lot and it make me a little bit more confident about my plans. I know I have a lot to learn still but I need to start somewhere right? Thank you again so much!
Miss Vanessa Carvajal you're doing fine you've made it this far so there's no turning back, mostly, your not ashamed to ask question this is the first song of courage and strength which are the vocal points to gain financial freedom so keep up the good work and in due time you'll be greatly rewarded.