*This link comes directly from our calculators, based on information input by the member who posted.
Thank you all for checking out this thread. I am a Realtor in the South Florida market. I have been full-time for about 2 years. I've always been interested in investing and after coming across this podcast/community a few months ago, I have been hooked.
I ran these numbers on a duplex in a desirable/residential neighborhood of Fort Lauderdale, in the Oakland Park area for those who are familiar with the location. I ran very liberal estimates, as I always do, to make room for errors on the side of caution. I ran the numbers using an FHA loan with 3.5% down, so a cash deal would clearly result in better numbers. Anyone with help/advice, I would be very happy to hear opinions. Anyone with interest in possibly either partnering up, I would also like to hear from. Thank you all!!!
Specialist · Fort Lauderdale, FL · Member since 2016 · 187 posts · 128 votes
7y
Vlad. Assuming your numbers are right and I think the rent projection for that area is a little on the high side, why in the world would you buy this? A 3 COC and a <7 on a duplex on the west side of Oakland Park? What is the upside here? Also, I would hasten to add that (a) you are not likely to meet your DSCR for financing and (b) if you lose one month of rent, that is 2 years worth of income...I am not one to tell people to go or don't go but from your own numbers I don't think this deal adds up buddy. Good luck