New agent/investor in Raleigh, NC with potential deal

[Patrick Madigan]

Hi BP! I'm a real estate agent in Raleigh, NC and I joined BP a few months ago with the idea of learning to better serve my investor clients. Little did I expect to catch the investing bug myself!

After listening to the first few podcasts, I was hooked. I just finished @Brandon Turner's Book on Investing in Real Estate with No (and Low) Money Down a few days ago, and J. Scott's Book on Flipping Houses should be arriving in my mailbox any day now. I can't get enough!

I've been nervous to introduce myself on here for a while--no idea why, everyone is great--but now that I have a potential deal, I figured I didn't have any more excuses.

I've been watching this one particular duplex in Wake Forest, NC that's been on the MLS for a few weeks now. It's listed for $120,000 and they say each side rents for $625/month. It was initially listed for $150,000 but has been rapidly reduced, so the seller seems ready to move it. Not to mention, the MLS remarks have been updated to say "Bring all offers! Seller is motivated!" Pretty straightforward.

Although I've done countless Comparative Market Analyses (CMAs) for my retail buyer clients, I've never done an investment analysis. Should I post it over in Deal Analysis?

I'm still getting my creative financing figured out, so even if I can't act quickly enough to move on this one--I don't want to rush anything--I thought this potential deal might be good for someone else to take a look at! And if anyone is local or wants to come out, I'm glad to connect with you to go see the property if you're interested.

Looking forward to interacting on here and learning from everyone. Cheers!