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
Buying & Selling Real Estate
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 8 years ago on . Most recent reply

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

Loading replies...