First Investment Prop -> Rate this deal

[Raj S]

Hi All,

I've been pouring over these message boards for a while. I appreciate having this resource as a fire hose of knowledge in REI.

So here's where I'm at.

There's a duplex asking 57.5k.
Each apt rents @ $800 from Section 8

Its in a Class C neighborhood (Have no clue actually but it seems like you guys say Class C for not the best neighborhood) I would say I would be fine there in the daytime, but hesitant at night.

The current owner bought it a year ago @ 20k and rehabbed it with new plumbing, electrical, windows, and roof.

The street it is on is full of multi family. perhaps 14-18. of which 2 are boarded up, and one of which just sold for $8k.

The cash flow really looks good, and seems to have room for a rookie to make mistakes. Also if I am horrible @ this getting a property management company involved will still have this with pretty good cash flow.

Thoughts? Things that I may be missing?