Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

30
Posts
6
Votes
Collette Douglas
  • Real Estate Agent
  • Newport, RI
6
Votes |
30
Posts

Potential first duplex deal? possible structural issues...

Collette Douglas
  • Real Estate Agent
  • Newport, RI
Posted

Hi all! I just noticed a new MLS listing for a duplex, each unit is a 2/1. One is vacant (rents 575) the other is occupied at 475. I am getting the estimated repair value for what the agent has dubbed "structural issues." Currently listed for $79,900. This seems like a great price for our area. I would want this property to occupy the larger of the two units (the unrented) while we repaired it and eventually the other, I'm guessing. I would hope to make stylish upgrades and increase the rental value. The current rental rates for these units are low compared to what I have seen in this area. It is in a prime location close to downtown and the military base, making it a great rental opportunity. We are military and would move within the next 2 years and likely continue pursuing buy and hold rental properties if our financing options allow. My questions are: what kind of offer would be considered smart, especially considering the mortgage would likely be paid for just by the other unit while we occupied one? How scared should I be by "structural issues," especially since it is still occupied? Tenants currently pay gas and electric and taxes were $670. I would need to look into some financing other than the VA loan as we are using it for the mortgage on our current home. Suggestions? Thanks all!

Loading replies...