Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Multi-Family and Apartment Investing
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 almost 8 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Juan Salinas
  • Hurst, TX
0
Votes |
3
Posts

Can I purchase a duplex

Juan Salinas
  • Hurst, TX
Posted

Hello

I just wanted a little bit of help, I was wondering if i could buy a duplex base on the following situation/criteria I'm in right.

OK 

-I'm 21, my credit score is 680 (i know its a little low but Im working on it).

-My monthly gross income is $2262- $2300

-I plan to put $14,000 $20,000 for the downpayment and closing cost.

-Ok here's the property. Asking price $72,000 ( question could negotiate for a lower price, if so what do you think its the lowest they would take).  2 units total rental income $400 per side, tenants pays the bills.

-Property tax $1200- $1300

So first question, would I get approve for this loan, if not what can I do in order to get approve.

2nd would I make money with this property, I looks like a good deal, but maybe I'm missing something.

And this would be my first rental property any tips/comments, or I'm i doing this right. Should i go a different path.

One last thing 

Thank you guys for you time if you read and answer my questions or just read 

Loading replies...