All Forum Posts by: Ryan Kempkens

I have an accepted offer and purchase contract but the under writer turn down the loan cause my credit is to new so I need another guarantor on the loan which I have, Should I wait for the Approval on the Loan first cause I need to have the inpection set up in teh next 5 business days.

Should I get a Radon test done with my inspection, its only $125 more? This is an older duplex built in 1900. Should I even have the inspection before the financing is completely approved?

Aaron thanks again your feed back has been great and that's what makes me so excited about finding a forum like BP. I really appreciate the time you've taken to help a newbie.

@aaronmontague thanks that would be awesome.

Taxes- $800

Sewer and Water- Tenant

Trash- $20 (thats what I pay 2 Blocks away not sure if its the same)

Heat/utilties- Tenant

HOA- None

Cap Ex and Ops- $150

Insurance- Approx. $45

Mgmt fee- 10% self managed

Vacancy- 8%

This is the type of help I need thanks again

Taxes last year were $806, sewer and water should be around $65, Electric and heat are metered separately so the tenant will pay those. The rent at $350 was low for the comps, I have been doing all my projects at $550. Rent-o-meter says $800 is the median but from what I know and have called about thats the high end, $600 is market from what I find. Its listed for $55,000 but it been on the market for for over 180 days.

Hi everyone,

I've been soaking up all the info I can get my hands for about the last year .I came across the Podcast about 6 months ago and love it and this site is awesome and has inspired me to start taking action!!

I am originally from the Detroit suburbs and am now living in the Wheeling, West Virginia area and work just outside Pittsburgh. I would like to invest in both the my old home town and my new one.

I found a duplex that I'm going to put an offer on. I love to hear some insight from everyone here if this seems like a good deal or not.

I'm offing $42,000 and estimate I'll need to put $15,000 more into it. Each side has 2 bed 1 bath. The units where renting for $350 each (they are empty now)after the improvements I expect to rent them for $550 to $650 each. I used the 50% rule and gave it a ten cap to come up with the $42k. Does this sound like a good deal, anything I should know before I make this offer I might not have thought of heard about?

Thanks in advance for your input and advice