First Duplex deal in Dallas TX

[Sally Peltz]

I am new to Real Estate but have a financial analyst background. Real Estate is my second career. The duplex I found and like is in this great area in Dallas next to everything and in a great neighborhood. However, my cash flow after taxes, expenses, and debt service is $700 per month on a $500,000 duplex with garage apartment. Based on what I read on this blog, others are getting this type of cash flow on a smaller investment of $300,000. This is my first investment property but when I look at cheaper properties, I don't get the rental income to sustain all the expenses. It's slim pickings on properties for sale.