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Updated about 7 years ago on . Most recent reply

User Stats

9
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0
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Tyler Hull
  • Grand Rapids, MI
0
Votes |
9
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Is this a good deal? thoughts and feedback

Tyler Hull
  • Grand Rapids, MI
Posted
Hello guys, I first want to thank BP for being an amazing community. It has answered nearly every question I had without me even having to ask it. With that said I am looking to purchase my first investment property and it is a duplex. I wanted a second opinion on the deal and if you guys thought it would be worth it. I am looking to purchase the property for $110,000. Rent would bring in $1,400 a month. Expenses would be as follows. Insurance -$40 Cap Ex - $70 Taxes - $150 Repairs - $70 Principal and Interest -$481 Vacancy - $70 This makes my monthly income on the property roughly $250 per door before taxes. The only thing that worries me is the cap rate (if I did the math right) is just 5.25%. I just wanted some second opinions on this deal and if there is anything I am not considering or should think about. thanks, Tyler

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