All Forum Posts by: Craig Harris

I made an offer for 80k, the seller rejected the offer then pulled the offer down all together. I got a weird vibe from the seller talking to her and her story as to why she was selling didn't make any sense.

@Anthony Gayden @Kevin Fontleroy @Bill F. Thanks for the advice. The property is west of 635 in the KC Schlagle school district. It is currently rented out but the $675 side lease runs out at the end of this month. The tenant is going month to month according to the current landlord and I'm not sure if that will pose an issue. 

@William Sumnicht  Thanks for the advice

Hi all, 

I'm working on my first deal on a duplex in Kansas City, KS. Looking for advice on if this is a good deal. 

Asking price- $86,500

Rents- $1325 for both (675 and 650 each side)

Taxes- $121 a month

Property management-8% ($106)

Repairs-10% ($132)

Cap Ex- 8% ($106)

Insurance- $85

Vacancy- 10% (132)

25% down on a 20 year loan will cash flow at $165.35 at these numbers above. Using the 50% rule this will cash flow at $245. 

COC ROI is 7.78% and I'll be into the deal for about $25,500 after $2000 in repairs. The property is in an ok area but property value has not and will not appreciate much.