Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
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 4 years ago on . Most recent reply

User Stats

8
Posts
3
Votes
Hugo Flores
  • Brownsville, TX
3
Votes |
8
Posts

First Duplex Advice!

Hugo Flores
  • Brownsville, TX
Posted

Greetings,

I have my eyes on a duplex that is brand new going for 190,000. I am thinking of house hacking and renting out the other side. However, I need a second opinion or multiple!

Here are the numbers:


Price: $190,000

Loan/Rate:  FHA Loan/3.25%

Rental: $1600-1800/ month. ($800-$900/unit)  

Expenses: $1515/month 

$1350 mortgage/pmi + house fees

$65 - Vacancy 

$100 - Repairs (First year warranty full covered by seller). 

Cash Flow: $100/mo

Annual Cash Flow: $1200

Invest+Closing: $11,250 

COC Return: 10%

What do you all think? 
I am doing the numbers with the lowest rent income for the worst case scenario.The rent could be higher also it is a very nice looking inside out home for a family. Also, since its just being built there is not set Taxes or insurance, so I went a bit over to make the worst case scenario... I do not count on value appreciating... I know the first year I wont see any expenses going to repairs since its covered by warranty from the seller. 

Please advice! I would like to start my real estate portfolio!

Loading replies...