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Updated over 14 years ago on . Most recent reply
Here's Another Duplex
I am looking at duplex that grosses $1,450 per month and the sales price is $73,600. I am looking at approximately $8,700 in annualized expenses using the 50% rule. My monthly mortgage payment would be assuming a 20 year fixed rate loan at 7% with a 20% down payment roughly $456/mo. That brings me to a net positive cash flow for the year of $3,228. Is this a good deal for my first property? Definitely better than the other one, however, this property is older and needs some repairs (about $5-10K worth). The other duplex I posted is turn-key. Let me know what you guys think. Thanks.