First Deal in Atlanta, GA

[Nate Lewis]

Hi BP!

I am looking at my first RE deal and am hoping to get some feedback from the community on the viability of the investment.

The property is a 1960s Brick/Siding Duplex with 6 Bdr and 2 Baths. Asking 130k.

Taxes ~$2600/yr

Estimated Closing costs - $5500

Insurance ~$65/Month

After running the numbers with 15% Vacancy, 10% property management fee and another hundred a month for expenses/maintenance I am seeing around a $250 a month net profit.

After speaking with a property manager in the area each side would rent  between 750-800. It is in a mixed area Southeast of the Downtown Atlanta area. I'd say its B-C class area with some new construction and recent rehabs in the same block.

The owner is an out of town investor that hasn't ever been on the property so I have some concerns about getting historical records on maintenance and rental history, but it is managed by a local property management company.

Any advice welcome!

Thanks!