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Updated about 6 years ago,
2 family rental feedback
Hello, my name is John and I'm hoping to get some feedback on a 2 family rental in upstate NY. I'm relatively new to this so any feedback would be appreciated!
Property details: They are asking $115,000. Property is in an A- location and could use a little cosmetic work.
Each unit (2) is about 1200sq ft, 2 bed 1 bath. I've looked around and each unit would rent for $850 per month conservatively ($1700 total). I'd have to take out a mortgage on this and FHA isn't an option. I'll be able to come up with the down payment but wanted to get feedback if I'm missing anything...
The monthly payment will be around $8-900 so it will generate solid cash flow. Anything I'm missing here? Thoughts / recommendations are appreciated!
Thanks,
John