All Forum Posts by: Nathan Ley

@Kevin Barrett - Thanks a lot for the info! If you ever want to chat about technical analysis of stock trends/etc, I'd be more than happy to share with you what I know and have learned!

Thanks @Richard Floyd !

@Kevin Barrett - Insurance quote $125/month. Property Taxes $162/month, maintenance I estimated at 2k/year (seems as though this should be much higher). I've only been trading options for a little over a year; however, around $8K+ for the year in options trading, and +29% in my longer term portfolio.

@Jason Minnich - Thanks for the input! I don't actually have orders yet, just hearing that it could be fairly likely per my UDM. My intent would be to occupy one of the units for the time being. I do agree with you and the rest of the users that the more I think about this deal, it doesn't feel right.

Thanks to everyone who has posted above...your time and responses are greatly appreciated! Look forward to any more advice that you have to give :)

Thanks for your input Cory. I will definitely look into that!

Much appreciated!

- Nate

Brandon,

Great point. Thank you very much for taking the time and giving me your analysis. Very much appreciated!

Take care!

- Nate

Hi BiggerPockets! I am grateful to have found a forum comprised of such knowledgable real estate investors.

Background: I am a 27 year-old military officer with no prior real estate investing experience. My investment experience to date is stock market based (options trading, long term holdings in a Roth/Brokerage acct).

I am asking for helping analyzing a duplex for real estate investment.

Address: 113 Limestone Ct, Clovis, NM 88101

Property Info: Built in 2007. Near Air Force Base. All electric. Each unit is 2br/2bth approx 1200 sq ft, 1/2 tile, 1/2 carpet, washer/dryer hookups, one car garage with one additional parking space outside. Each unit is currently renting for 975$/month, which is conservative based on local duplex prices. Both units have been without vacancy since built in 2007.

Asking price: $255k.

Offer Price: $245k. (likely to be accepted, as broker is the seller and she is willing to deal).

Loan Info: Owner Occupied VA Home Loan with zero down @ around 4%. (I would be occupying 1 unit for approx 1 months prior to upcoming deployment, and renting thereafter).

Approx Mortage Payment with insurance/tax/etc: $1526.00

Closing costs: $342.00.

I would be asking $1000-1050/month rent.

Based on my estimates when renting both units, cash flow @ $1000.00/unit/month would be $2,216/yr.

Link to property photo:

http://www.zillow.com/homedetails/113-Limestone-Clovis-NM-88101/2109210176_zpid/

Any help or advice would be greatly appreciated. Like I said, I have a fair general understanding of ROE/ROI and economics; however, I have no where near the experience as the rest of you on BiggerPockets!

Thanks in advance for any replies! Have a great day.

- Nate