Bought a duplex and turning it into a triplex

[Victor Gutierrez]

Hi all,

I bought a duplex last year. Some info about the property; the house has “two apartments”, but the attic was partially finished when I got the house, now I’m doing some renovations in the attic which was being used as a one bedroom apartment. Now my girlfriend and I are moving in this apartment and renting the one that we are currently living in. My mortgage with taxes and insurance is $2,100, but gets better we are getting $1,300 dollars for the first apartment and we are going to rent the second for $1,500 with electric included. We have coin operated wash and dryer machine for the tenants the average that we get from these at month is $35 dollars if we rent the other apartment probably the average will increase to $70 dollars at month. When we do the math we are going to get everything set and done $2,875 at month.

After all expense we will have left $475 every month.

What do you guys think about this strategy?. I’m open to conversation.