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Updated over 5 years ago,
Can someone help analyze
I’m trying to start my brrrr empire.
However I’m looking to also get into a house to live in for the time being that is closer to work. I have never owned an income property before however I have found a multi family home in a desired area that I’d like to love in for a while.
Duplex 2 units over 2 units.
Asking price -165k needs new septic (quoted at 15-22k). And updating
Rents(currently )- 900 for one unit and 880 for the other. Part of the land rents to a blueberry farmer for 135 a month. Taxes are around 5k
My question is if I plan on staying in this property for several years and then keep it as a rental when I’m ready to move on do you think it’s worth it ? Owner is the listing agent and will not move on price.
I also want to make a wise decision as I need somewhere to live closer to work and I want to put myself in a good area (hard to find multifamilys ) in these areas