Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 about 5 years ago,

User Stats

45
Posts
16
Votes
Stephen Foltin
  • Charlotte NC
16
Votes |
45
Posts

How to run numbers on Duplex or SFH - BRRRR - Charlotte NC

Stephen Foltin
  • Charlotte NC
Posted
Hello BP community, My current situation is, I own a condo in a popular area in South Charlotte NC, my mortgage is $900/month, HoA $200, and rents for similar condo's are going for $1300-$1400. We have no debt and about $10k saved up. My fiancé and I are looking to buy a SFH or preferable a duplex in or around the south charlotte area and rent our condo out. Looking to BRRRR our new place so I want to buy a livable fixer-upper, stay for a yearish, then continue. My question is, what tools should I use to run numbers on a house, or duplex? Since I will eventually want to rent our future house out, how do I know where a good area is to buy that will be good to rent? Duplex's are around from $500k-ish in Charlotte areas we would like to live. Can you still find a deal? How do you find or know a deal is worth it? Do you think it will be worth it in long run to buy a duplex for say $500k if mortgage is $2,500/month, and rent is $1,500/side (so after one year when I move out and rent other side it would be cash flow positive). Also, can you get a mortgage on a duplex for around 5% down if you plan on living in one side of it? If so where? Anyone use a wholesaler on their first deal? Any input or tips are appreciated.

Loading replies...