All Forum Posts by: Stephen Sullenberger

Great advice, John! Thank you! 

I would love some votes and advice on this property. The biggest problem I keep coming across is trying to figure out the Ins. without going to a company and waiting for a quote. Thought? The first duplex is offered at $149k and in the discription, says there is a second duplex available if interested right next to it so, I'm confident I could get both for around $260 or $270k if I offered but, just for the numbers and a just in case, I put the purchase price of $290. 

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That's great advice. Yes, it definitely has some room for improvement. Also, putting less down and paying PMI is not a bad idea either. Makes perfect sense to put a chunk down later if the numbers aren't what I expect. Right now the rent is $650/mo. They're nice two story units with a balcony outside the master bedroom. They were built in 2010. They're 2 bed 1 1/2 bath.

Looking at this property, one unit is vacant right now. I don't know if I should live in the vacant one and get an FHA loan or just do the 20% down for a conventional loan. I would have a hard time coming up with the 20% and currently I live with my girlfriend who has her own home. Also, not sure about the numbers. I'm sure I could get it for less and the numbers don't look too bad if all 4 units are rented.

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