All Forum Posts by: Joshua Woods

@Ryan Howell absolutely. Definitely looking into that.

@Ryan Howell

The unit isn't metered for both. The rents do account for the utilities, but are under market value. Minus utilities, units are renting for 625 and 475, and should be at 7 and 6 with no updates, and 700 and 700 with updates.

Hey everyone! Just had a counter offer on my first duplex. Do my #s make sense? Two 1/1s in AZ.

134k purchase with 4k closing to me.

25% (32500) down payment

Current rents are 800 and 650. Utilities included (🤮, I know) average $350. They are at least 100 below market rents. The 650 side needs some love in the form of carpet, paint, some cabinet doors and a few other cosmetics and is on a month to month lease, the 800 side is good and just signed a 1 year lease. I used about 17% total rents for capex (5% vacancy, 5% mx, 5 and some change for other) which is about 50% total income after PITI and utilities.

1450-570(PITI)-350(utilities)=530

530-250(capex)=280mo 3360yr /32.5k=10.3%

Raise each side $100

1650-570-350-250=480 480mo 5760yr/ 32.5k 17.7%

Add 3k reno = 16.2% return CoC

Am I missing something? I know it's not a home run but I dont want to play the analysis paralysis game anymore and would like to get some good education rolling.

Thanks for your time!