All Forum Posts by: Jorge Rosales

@Luke Trovinger Thanks for the reply. Like you and @Pieter T Van Zyl mentioned negative cash flow is a pass. It would be tough to rely on appreciation in this neighborhood/part of town (high rental area). Although it is growing. I believe any value add could be done to the kitchen cabinets, appliances, flooring, and adding a fence. Would this be possible to reach market value which is could be (850-1200) for 812sq ft?
I appreciate your feedback.

Please see my deal below. 
Duplex side by side - 2 bed 1 bathLocation: Lincolnton, NC. 40 minutes from Charlotte, NC
First property purchase. Would live in one side and rent the other. Current rents are $650 & $515 on a month to month lease. I’m estimating a $1400 mortgage payment. 

I would appreciate any advice the community might offer, or questions I have not considered. I do want to ask if anyone has been in a similar situation where the current rent of one rental does not cover the cost of the mortgage? I understand the management efforts that come along with this also. Any thoughts BP?

Any thoughts on using an FHA as part of a partnership deal? Does anyone see an issue with it? The proposal is my FHA, and 50/50 on the down payment. This would be my first deal and I would appreciate any advice on FHA best uses and how to negotiate the deal with the partner. I want to get started but also don't know if I should keep the FHA in my back pocket.