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.
General Real Estate 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 3 years ago,

User Stats

5
Posts
1
Votes
Tony Z.
1
Votes |
5
Posts

Need advice with first investment opportunity

Tony Z.
Posted

Hey everyone. 
   this is my first time posting and I’ve been doing a lot of homework lately. 
i been looking in Pennsylvania for my first investment property.
i came across a property today. 2 family ( duplex ) in a desired part of Pennsylvania. 

rent roll is 2200. Everything is turn key. Was a fix and flip , electric heat. New LVP flooring. New windows. New roof , New stainless steel appliances , bathrooms everything separated ( water, gas , electric , water ) with tenants paying all utilities. and the ask is 220k ( meeting the 1% rule ) I would ask to close at 210k, if I were to land at that price 

with Taxes , Insurance, Principal, at 4.6% interest rate, I'm Looking at 1200 monthly payment. When calculating my numbers I like to put 18% aside from rent roll for minor , major and vacancies which would be another 400 which brings me to 1600. Based off my numbers with down payment and closing my ROI is 14%.

im getting kind of nervous, cold feet. Idk if this is good , not good enough. I know the market is hot now but what if the rent market cools down. I’m getting slightly turned off 

please , any advice would be greatly appreciated 

Thanks 

Loading replies...