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Updated about 6 years ago,

User Stats

40
Posts
16
Votes
Nick Murray
  • Rental Property Investor
  • Bel Air, MD
16
Votes |
40
Posts

New Investor - Looking to buy a Duplex or Triplex

Nick Murray
  • Rental Property Investor
  • Bel Air, MD
Posted

After watching last nights webinar I decided multifamily housing would be my niche. Once I finished the webinar I went right to Realtor and found a TriPlex near me with 8 Bedrooms and 3 baths for $160k similar price to the example that was showcased. The monthly cashflow using Biggerpockets tool is $1,831.47 with a 62.79% cash on cash ROI. The house has also been listed for 250+ days meaning I could probably offer a decent amount less.

Since I'm new this really doesn't mean much to me (i dont know what im doing) and I'm not sure if I estimated everything right because this seems like a too good to be true deal, especially since it was the first house I clicked on haha.

How would I be sure to get more accurate numbers and make sure I'm calculating all this correctly? Rent prices, Repairs, etc. Or is this mostly just a rough estimate to see if you should look into it further?   I know actually going to the property and looking at it is probably the best choice since the pictures don't really show much of the inside condition, but I wouldn't know what I'm actually looking for.

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