New investor buying duplex

[Maxim K.]

Hello there !

My name I Maxim and I’m looking to get into real estate investing.

I am excited about Brrrr and flipping, but at a same time I feel I should start out with at least 1-3 rentals and then get my feet wet in flipping or brrrr.

With that said , I found a duplex in desired area of Philadelphia. Based on location rent in that area is 1000-1200 for 2br apartments. House for sale at 235 and my target price was 195 but they are not selling it lower than 220. based on my calculation even with 5% down and 220k selling price it looks like a good deal

As far as condition of this property, I would say it needs a light refreshment, paint walls, replace bathtub in one unit, possibly replace HVAC in one unit and update 4-6 windows.

What are you thoughts fellow members of bigger pockets . do you think it’s a good deal ?

[Daniel Haberkost]

Originally posted by @Maxim K.:

@Daniel Haberkost 538 cash flow after all factored in

Over $250/month cash flow per unit? Sounds like a good deal to me as long as you’re confident in the numbers and the area has strong population/economic growth.