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Updated over 8 years ago on . Most recent reply
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This is my first Duplex deal is it a good one?
Hello happy Saturday, so I'm newbie to Real Estate investing. I'm currently in the process of buying my first deal it's a Duplex here is some details. Price is $250,000 one side has 2 bed 1 bath and other side has 3 bed 1 bath. The Duplex is currently has both sides being rented for $800 each bringing in $1600 each month. My mortgage payment will be around $1,100. I know I can probably raise the price of the 3 bedroom side at least another $100. Please any Advice.. is this deal good.? I'm located in California
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It's great to have all this responses from all you pros out there. I really appreciate it. So to answers a few questions here some more data.
The Duplex will be managed my wife and I.
The Duplex does not need a whole lot of maintenance because it only has a small yard in front.
The plan is to put down 30k.
The Duplex is located within a few miles of downtown Sacramento/old Sacramento and lets keep in mind the new Kings stadium is being built.
The tenants have currently being there for 1 year and a half year and are planning to live there If I close the deal.
The tenants take care of the little landscape work.can somebody tell me what this deal would need in order to be an attractive deal. If somebody can run numbers for me I would appreciate it.