Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 almost 9 years ago,

User Stats

1
Posts
0
Votes
Pat Belmer
  • Retail automotive management
  • Owosso, MI
0
Votes |
1
Posts

Looking at my first deal! Any advice?

Pat Belmer
  • Retail automotive management
  • Owosso, MI
Posted

Looking at my first deal.  Seller is former broker selling in my opinion a great property.   Rural duplex w/3 bedrooms 1.5 bath 2 car garage each.  Built in 1960.  Asking 129900.     Appraised a year ago at 130k before new windows were added to one unit   I've already offered 115k.   They countered at $125k.    Taxes are $3000.  Association fees 225/yr.    one side is rented at $650.   Other side typically rents at $750.   Unit is vacant now    Rents are low in my opinion but tenants are responsible for lawn and snow removal as well as all utilities.    I have conventional financing lined up and down payment ready.    Vacant unit could be rented as is with minimal work or kitchen upgraded and get more rent.   Figuring $300/mo for vacancy & repairs this looks like a property worth trying.   Property is not in typical area for a duplex and even has access to a small 40 acres lake which hasn't even been offered to tenants before.     Any advice is greatly appreciated 

Loading replies...