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Updated over 10 years ago,
I need help
Hello,
I have just recently came across a duplex that is listed for 75,000$. So I estimate that monthly payments will cost around 700$, rounding up of course. The duplex has an operating income of 1200(650 from the top and 550 from the bottom). The guy wants his equity back out of the home so he can flip another property he is working on. This sounds a good deal for me, but this would also be my first deal so I need some advice. I don't have enough money for a down payment on a mortgage. What is a sensible thing to do in my situation so where we both can benefit since I'm bringing little to the table?