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Updated over 8 years ago, 04/20/2016

User Stats

73
Posts
14
Votes
Leon Chappell
  • Investor
  • Chapel Hill, NC
14
Votes |
73
Posts

Am I selling myself short?

Leon Chappell
  • Investor
  • Chapel Hill, NC
Posted

I want to present my financial information and in the end get some advice. I don't want to make another mistake like I did on my first duplex.

I make about $66,000 gross a year. Including rental income from one side of my duplex. I stay in the other side. I have about $1650.00 in total debt a month. That leaves me with about 30% debt to income. With about $6000.00 cash in the bank.

I am only looking at properties that are in the below $60,000 range including repair cost. Should I go higher? Am I even able to. Should I focus on flips to build cash. What's the best financing avenue? Hard money? Should I just save my money for a down payment? What would your route be if you were in my situation? lol Sorry for all the questions Im starting to feel stagnant. The same way I was feeling before I made a mistake on my first duplex.  

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