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Updated about 6 years ago on . Most recent reply
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Would you buy this duplex? And how?
I have the opportunity to buy a duplex for $148,000 and the current tenants pay $750 on one side and $800 on the other. There is no HOA, and tenants pay utility bills and taxes are about $200/month. Bones of the house are good, but cosmetically it hasn't been updated in years, AC is 12 years old, roof is 5 years old. Would you buy this?
We are trying to go ahead and buy this. My next question is what would be the best way to get the down payment? I have a couple of retirement accounts that are not making much in the stock market so we are looking into pulling the $30k we need for it (my lender can give 15% down payment). Or we could ask a friend that we know has the cash and the interest in investing and we could split the down payment in two, or buy it together as partnership?