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Updated over 8 years ago,

User Stats

35
Posts
3
Votes
Scott DeLange
  • Levittown, PA
3
Votes |
35
Posts

Found my first property... opinions welcome

Scott DeLange
  • Levittown, PA
Posted

So i think i have found a really good first investment property.. ill provide all the details, please let me know what you think. Ran everything through the calculator and the numbers all seem really good to me. Will be doing a FHA 203k loan on a duplex, unit 1 is 1bed/1bath unit 2 is 2 bed/ 1 bath

Price: $140,000

Rehab: $30,000 Estimate

Mortgage: $170,000

ARV: estimated around $205,000

Taxes: 5,200  average for the area

Rent:   unit 1 = $900       unit 2 = $1,100 - $1,200

Doing the Rehab does not bother me plus i think this could be the perfect BRRR property.

Unit 1 is currently rented out already and does not need any work

Unit 2 is the one that needs all the work, there is no kitchen and i wanted redo the bad and a few other things around the house

Will live in unit 2 for a few months before i try and rent it out as well and move on

missing anything?   opinions welcome from anything, specially if you have done a 203k before

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