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Updated over 2 years ago,
Is it worth it Duplex 250000
Hi everybody I’ve been shopping in the Oregon area for a while looking for a duplex within my price range is about 250,000 on an fha loan I recently found and got a preapproval for a three bedroom two bathroom duplex in Roseburg however the house is 122 years old built in 1900 also it only currently rents for $1300 for the whole duplex the front section is a two bedroom one bath and the separate back inlaw quarters is a 1.5 bedroom one bath the realtor I’m working with says I should be able to raise the rent of the first unit to about 1100 and the rents on the back unit to about 800 which means that for the first year or two I won’t be able to make any cash flow on the property until I’m able to raise the rents up to where it’s exceeding the mortgage
Do you think it’s worth it to get into my first duplex Even though it won’t cash flow for about two years most likely however that said I’ve been looking for about a year at this point this one seems the most feasible that is within my price range