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Updated over 4 years ago, 07/08/2020
Deal analysis in Lubbock, TX
Hi Bp,
I have a duplex deal in Lubbock Texas. so, i thought i would run it across people in Bp to get some opinion. It is duplex for 315k with tenants in place. each unit rent goes for $1350. neighborhood is Indiana Ave and 98th street.
CoC = 7.3%
Cash flow = $505
i understand that CoC should be at least 10-12% for a good deal. This is will be my first rental investment property. so i'm more looking at passive income and i think it qualifies $200 per door condition (from @Brandon Turner webinars). so, could someone from Lubbock area, let me know if this neighborhood is good for rentals.
Thanks!