Opinions on this deal from your prospective

[Michael Brattelli]

I recently spoke with an investor who just closed on a property. I’d like you to rate this deal and to know your thoughts on the deal as a whole compared to YOUR local market. Property was vacant at time of purchase.

The is the info I have on the deal.

Duplex- $300k

Property Tax- $7,500

FHA loan 3.5% down with a full seller assist

Interest Rate-2.99%

Each unit was last rented at $1,300 but could be increased to $1,500 with updates and repairs.

Estimated total repair costs- $25-30k

Estimated cash flow about $1,000 per month

[Michael Noto]

@Michael Brattelli If this is a long term buy and hold the numbers do not work at all based on the info you gave. If it is a house hack that they will be living in long term then having a $1500 coming in every month to supplement their mortgage payment sounds like a good deal to me. Two different people purchasing can look at a deal completely differently.