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Updated over 7 years ago on . Most recent reply
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2-family in NY, does this sound like a good deal ?
Hey guys, so I found a 2-family home in southern NY about an hour and a half from NYC. The home is listed for 375,000 but I'm sure I can offer at least 25,000 less and succeed.. I got most of the details needed to evaluate the property. One 2 br apt rents for $1700/month and the other for $1500/month making the monthly gross $3,200. Taxes are $11,000 a year, all utilities are separated to each apartment and tenant pays all. I'm in a position to be able to put 20% down. House is in good shape no major repairs needed, new boiler, etc.. good neighborhood also. Anyone have any advice or input on this deal? Anything would be appreciated. It would be my first deal, so I don't wanna jump in without doing my research. Thank you..
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Not sure about Hartford CT. The Pa rentals have cashflowed a little over $300 each. Our flips make anywhere from 15k to 30k. I like it there because I learned it and know it. I'll stick to it until I have enough cash or access to cash to go larger. Thanks to this site, Bigger Pockets, I've found people to go in on these deals with me and pretty much fund them. I'm looking for 2 more flips now.