Updated 12 months ago on . Most recent reply
Let’s Analyze This Deal $89,900 Purchase Price
Purchase price $89,900. Duplex fully occupied with rents of $2,500. Leases expire mid 2025. C of O until April 2026. Separately metered with tenants paying all utilities. Mortgage payment of $870 PITI with 20% down at a 7.25% investor rate. Yes, it may need repairs, but I would have a $20k+ cushion for repairs in reserves. Yes, it may not be in the "best" area. I'm okay with that. My goal is to have enough passive income to retire within the next 10' years. I also plan on applying my net rental income towards principal only payments to shorten the life of the loan. Should I buy this?