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Updated almost 3 years ago,
Please HELP me analyze this deal (Link at bottom)
Hello,
I am a first time home buyer, but long time lurker of the house hacking technique. I Have been saving up to purchase a duplex. The market is crazy right now, but I finally had an offer accepted on a duplex. We just had the inspection today, and I am having some concerns.
1.) The price is 276k. After running the numbers it seems like it won't be a great cash flowing property. Similar rents in the area are 900-1200 per side. I understand that we should be running the numbers for when we move out.
2.) It's an older property so it will need to be updated. It's mostly cosmetic updates, but with the rising cost of materials it will chew into my budget.
If you were me would you proceed with the deal or just keep looking despite being a crazy competitive market?
https://www.redfin.com/TN/Hixs...
LINK ^ (it's 2/1 each side)