Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago on . Most recent reply
![Korey Hauenstein's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/461738/1696918082-avatar-koreyh1.jpg?twic=v1/output=image/cover=128x128&v=2)
Noobie, Need advice on deal!
Hi,
My name is Korey and I am new to investing. I have done my research and learning and have been waiting to jump in the real estate sector. I finally found a deal that has caught my eye and is a very different kind of deal and would love to hear any advice on the deal!
Background story: the deal comes with two properties. It is near a small college. One is a single family home converted into a duplex. On both sides are 2bd 2ba. The other property is an apartment building with 4 doors. Each one is a 2bd 2 ba. I don't know the square foot of each apartment.
With that said, so far I haven't contacted anyone, just looking at the numbers I was given and decided to ask for your opinion.
Numbers:
Asking price:225k
Built:1910
Loan: 20% down $175,000 loan 30 yr fixed
Estimated mortgage with insurance/taxes: $1,100
Rented: apt A: 650/Month aptB: 650/mo aptC: 600/mo aptD:600/mo AptE:495/mo AptF: 550/mo
Total rented: $3,545/mo
-landlord pays water,gas,sewer :estimated value:$800
Would use property manager: 7-10% per month:
$280
Also, the duplex price value could be around 60-70k sold as is. ARV could be around 100k with 15-20k repairs.
I know I am missing numbers, but anything that you think would help a noobie (would be my first property to invest in) would be great.
Such as things I need to be careful of?
Things I should ask realtor/owner?
Should I sell the duplex to pay off debt of loan?
Anything would help!
Thank you,
Korey