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Updated over 7 years ago,

User Stats

3
Posts
0
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Juan Salinas
  • Hurst, TX
0
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3
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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 

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