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 about 3 years ago,

User Stats

9
Posts
5
Votes
Collin Parody
Pro Member
  • Lender
  • Lakeland, FL
5
Votes |
9
Posts

Buying my first Duplex

Collin Parody
Pro Member
  • Lender
  • Lakeland, FL
Posted

Hello everyone, 

I am looking to buy my first duplex in my local neighborhood. It has a 1 bedroom apt in the top and a two-bedroom apt in the bottom. Both apts have long-term tenants living there already that are locked into lease agreements, the top one earns 725 A month and is on a 1.5 yr lease. The bottom earns 1125 a month and is currently on a month-by-month lease. Both of the units are newly renovated and the house was built in 1910. There are a few things that can be done to the outside to make it look better, however, the inside is completely turn key. The house sold for 100k in 2018, and is currently listed for 125k today. According to the calculators I have used, with a 20% down payment, the property would mortgage at about 700 a month. I plan to tour the place this week however, I just started my new job and the down payment is not readily available for me currently. I am writing this post to get some feedback on creative ways I can get the money for the downpayment on this property. I also intend to live in the property for a brief period of time so house hacking is also in play for this deal. Thank you in advance to anyone that responds, I look forward to some feedback!

  • Collin Parody
  • 315-778-3737
  • Loading replies...