All Forum Posts by: Dustin Powell

I appreciate the reply! My realtor told me he believes we could get the property for $285k. Knowing that it wont be a good investment in the short term do you think it might make more sense than just renting an apartment for a few years. My options would be to do that or buy a SFH and just sell later or try to rent it. My thoughts with this property were that I could live there for the same price as rent somewhere else if I put $60k down and then have someone else help pay down the loan. Once interest rates fall I could refi and hopefully have a decent cash flow if we move out and rent both units. I know part of my problem is I am coming up on the end of this deployment and we have to do something so maybe I am trying to hard to make something work.

Total Realestate noob here. I'm 27 and currently on deployment. Before leaving on deployment my wife and I sold our house and she moved in with my parents. We currently have no debt and are trying to figure out what to do when I get home. A couple days ago she found a duplex for sale in Russellville Arkansas. It's listed for 295k, it was just built last year and rents for 900. She wants to live in one unit and rent the other. I do believe we could raise the rent to 1000 or or 1100 but even so I just can't make the numbers make sense to me. I'm not totally against the idea of getting into Realestate investing, I would just like some guidance from someone with experience to help me understand if this is a terrible deal. I will be able to use a VA loan so we could put 0 down, we would also be able to put up to 65k down. Really just looking for general advice on the situation. I don't want to buy a SFH yet because with our careers I don't know if we will stay in the area for more than a couple years. I do want to live there long term though.

Edit: I forgot to mention the duplex is 3000 square feet so 1500 per side. Also has a garage for each unit. So it’s selling for less than 100 per square foot.