real life example

[Federico Ramos]

X Guy wants $174.000.00 for a duplex. He owes 105.000.00. he's had 8 back surgeries and doesn't want to be a landlord anymore. montly house expenses come to $868 (mortgage, insurance, taxes) first floor rented for $750 second floor rented for $775. that's $657 cashflow! repairs stimated to be at around $5000. i haven't been able to find any comps that relates to this particular property. any thoughts and/or suggestions on this deal? i want this deal to be a win win win... but hesitant about how to approach the owner with a deal.

[Rich Weese]

Just a quick calculation. $1525 monthly for 174K? I think it is AT LEAST 50K too high. Is it an actual duplex or a house that now acts as 2 units? Age? Will taxes go up when you buy it? Utilities? Maint? Landscape? Mgmt ? Assumable mort? Fixed rate? Assessed value for land? Improvement? So many concerns , imo. Rich