Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

1
Posts
0
Votes
Jake Michaels
0
Votes |
1
Posts

What are your opinions on this duplex?

Jake Michaels
Posted

This is on long island. I'll be ready to buy a duplex to live in/rent in about 5 months. Until then, I'm just researching and trying to pick out a few good buys for experience. I'm wondering what you think of this one:

https://www.zillow.com/homedetails/7-Reed-Dr-Deer-Park-NY-11729/32620876_zpid/

With 5% down mortgage + tax would be around $3,300. I could rent the larger portion for $2500 compared to comps. This leaves me with a deficit of $800. My current apartment is $1500 a month so having to pay $800 seems great. Even if everything goes wrong it would still be less expensive than my rent as well as something I keep.

I figure in 2 years or so I would move out and rent the smaller portion as well.

I'm just making sure the Math + my logic follows. I'd rather make stupid mistakes on something I'm not actually buying. What do you think?

Loading replies...