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Updated 11 months ago,
Is this "Good Enough" ?
Hey everyone so just a short overview, this is a New build duplex in a class A neighborhood , buying semi low money down so cash-flow inst the greatest. Keep in mind this will be a 30 year or forever hold with appreciation the ultimate goal and cash flow at year 20-30 being retirement income (hoping to stack 10 of these if i can)
Here's the numbers, I'm planning to close in April i just got back from taking the wife and kids to the build site, they approve so that's nice haha.
My thinking is account for all expenses and hope that it being a new build will save me some time before having to perform cap ex style repairs (I do have about 50K cash on hand after the closing of this property so i feel comfortable with handling curve balls for a few years) New Build structure and neighborhood/school gives me hope that in 30 years i can still command a decent rent on a property 30 years old instead of trying to take something from 1970 all the way to 2055 and still get decent rent out of it . Vacancy rate is 1.7%
Cash Flow - My thought is 4-500 isn't much every month BUT that is a cushion for a property tax increase or insurance premium bump, maybe Even if i cant rent it for my conservative estimate then i still wont go red on the month holding it, it'll just be maybe 100-200 cash flow a month instead.
Thanks for taking the time if you've read this far. thanks for your input.