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Updated about 8 years ago,
Duplex under contract
I have a duplex under contract right now. Purchase price $70,000 and could use around $2,000-$3,000 in work (possibly less). Each unit should rent for about $625-$650 each. I am a brand new REI and this will be my first deal if it goes through and the inspection checks out. I guess what I am looking for on this post is any advice on this deal and also advice on what additional steps to take during or after your first deal. Also if the BRRRR strategy will work on this property to pull my down payment out and move on the the next property (I believe this property appraised for around $80,000).