All Forum Posts by: Patrick Rowe

@Minka Sha -OK thanks, the duplexes are in a C or D class area. I will check with the agent to see if that includes water/sewage/garbage. I thought the $100 a month for repairs would cover misc big ticket items? Also for as the city inspection fee I'm not aware of any city fees annually, but I will do some research. I was figuring a 8% cap rate. I would like to get some advice on coming up with a offer price. I'm trying to accomplish $200 per door on this deal.

@Minka Sha 

COSTS-$65000

mortgage- $65,000

insurance (fixed) -$2000

vacancy rate $100% occupied

taxes -$900

property mgmt company - 8%

water bill, sewer, garbage- tenants pays utilities

city annual fee-N/a

misc big ticket -N/A

@Kenneth Hynes The property taxes, insurance are.

                             Insurance -$2000

                             Taxes- $900

@Kenneth- Ok thanks, After my analysis I'm coming up with the following. My plans are to hire a property manager. I found out from the agent that the tenants pays all the utilities. Let me know your thoughts on this

Income- $1100

Expenses-$650

Finance -(PITI $620

Cash flow= -170

@JT - The property taxes are $900 per year and  one of the tenants have been there for 10years

@Bill thanks for the reply, for as expenses the tenants pays all utilities, lawn care. The existing owner manages the property himself. After I figured the 50% for expenses and figured the PITl it didn't cashflow.

I need some input on this Duplex deal. I have a banker that will do 100% finance on them for 30 years at 5.75 interest rate. The seller has owned this property since 2005! One tenant has been there 20 years. Wood floors in some, new Roof, New A/C in units. Well maintained and ready to be sold. The units are 100 percent occupied and the units are separately metered. The property is located in a c or d area located around college campus. The owner also has two more duplexes at this price. I'm coming up with a payment of $621.00 per month including PITI.

Asking Price- $65,000

3 BR 2 BA

21-30 Years of age

Total Square Footage- 2,250

Income - $1100 a month

Ok thanks, I haven't use it before.

Also the tenants pay for all the utilities, lawn care. The owner manages the property himself.

Ok thanks, I understand your at $379 a month P&I you still need to add in taxes,insurance  that put you at $621 a month.The 1972 was a the address number for the property no the year it was built. I was a typo on the part.