Evaluating My First Potential Property Deal in Jacksonville – Insights Needed

[Nadia Brown]

As a first-time property buyer, I'm taking a big leap into real estate investing and could really use your collective wisdom. I've got my eye on a property in Jacksonville, Florida, and I'm trying to gauge if it's a smart investment.

The deal:

• Asking Price: $102,000
• Type: 3-bedroom, 2-bathroom home
• Unique Aspect: Currently rented out in separate units
• Rental Income: $1,600 per month
• Net Profit Post-Expenses: Approx. $1,200 per month

I'm at that crucial point where everything seems a bit overwhelming. Assessing this deal has become unexpectedly challenging, yet I'm eager to dive into real estate. I'm hoping to gather insights from those who've walked this path before.

Does this deal seem reasonable for a first-time investor like me? Perhaps there are aspects I haven't considered yet?

Any advice, tips, or personal experiences you could share would be immensely appreciated. Your guidance could be the beacon I need to navigate these uncharted waters :) 

Thank you in advance for your time and insights!

[Konstantin Ginzburg]

@Nadia Brown

Based on just the numbers you provided; this seems like a good deal. However, when you are calculating your expenses, don't forget to factor in estimates for maintenance, capital expenditures, and vacancies. Also be sure to do a good inspection on the condition of the property. If there is a lot of work that needs to be done to the property to make it rentable, this could wind up being a large out of pocket expense that you would need to factor in. If this property is already under contract, then be sure to hire a high quality inspector to get this information for you.