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Updated over 3 years ago on . Most recent reply

Tyler Lloyd's profile image
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Tyler Lloyd
  • Rental Property Investor
  • from Rochester, NY
  • Member since Jul 27, 2021
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Tyler Lloyd's profile image
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Tyler Lloyd
  • Rental Property Investor
  • from Rochester, NY
  • Member since Jul 27, 2021
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Tyler Lloyd
  • Rental Property Investor
  • Rochester, NY
0
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Is this a good deal for first property!

Tyler Lloyd
  • Rental Property Investor
  • Rochester, NY
Posted

Duplex 2 bed 1 bath on each side with 2.5 car garage.

Listed for around 269k

Offer around 250k

Rents for $2200-$2400 total

Taxes are about $6900

Loan 3.25%

Great area that will supply A+ tenants.

This would be my first property. Thanks.

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Joe Villeneuve's profile image
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Joe Villeneuve
  • #5 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve's profile image
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Joe Villeneuve
  • #5 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
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  • Plymouth, MI
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

A couple of things.

1 - Rents mean nothing if the CF that results is low.  What's the CF?

2 - There is no such thing as "good for the first deal". Either it's a good deal or it's not. There are no "gimmies" in REI.

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