All Forum Posts by: Heath Watson

 I have a video of the other side but it won’t let me post here. Bathroom needs gutted, kitchen already is. So that side is the side that need 15k of work not the ones in the pictures. That is the one rented for 550. 

 It was an off market deal a real estate agent brought to me Friday. Apparently the wife is on his *** about getting rid of something. They own 2 other businesses have kids in sports and have to much going on. He put down peel and stick on the one side that’s finished that rents for 550 atm. So not everything is perfect on that side. But the other side is completely gutted but he does have some materials in there. Seems hard to find a duplex for one and I’m more just concerned because it’s a lot of money up front to only cash flow $200 bucks a month but like I said I’m trying to think of future and I feel like a duplex would be nice to own even though it’ll be 2 tenants instead of 1 so more work too. 

Duplex available for 100k.it’s a 2 bed 2 bath 1800sq ft so each side is one bed one bath. One side rented for 550 but I believe they can definitely be raised to 650-700. the other side needs renovations. Arv I think is around 175. Probably needs 10-15k in work. I have the money to put the 20% down and I was planning on opening llc and using line of credit with 0% interest to fund the renovations and keep as rental. Or I could fund with own money. Does it sound like a decent enough deal to try and make work? This is my first real estate deal other than buying my own home. Is putting 20% and spending 20k on a deal like this sound worth it? I’m trying to think about the future so I know I won’t see investment back right away.

I currently own my own home. Im looking to put in an offer on a duplex but wondering if its possible to buy as secondary home? One side needs renovations the other side is currently rented. Most lenders will want 15%-25% down on and investment property trying to put down less so I have can keep more of my savings for renovations. 

Correct, worried about my ROI. Im only 24 and ive been searching for deals weekly and have been trying to make the leap into real estate. I have a full time job at Sherwin Williams and this property is only 2 miles from my home. I have been saving money for a long time and I know I might not see a return on my investment right away but i do know its hard to come by a duplex for the price. Its an off market deal that I definitely needed to take a look at this morning. The other side is a little rough but the side above is already rented out for $550 a month which i believe can be raised to 650. I thought maybe that would at least cover most of the payment while i have the other side fixed up. Brand new hvac, blown in insulation, new windows, and new siding. Roof is in great condition.

 Yes charging me 4.5 points so 4,500 bucks so with other closing cost would be around 9k not including down payment. So about 24k+ to get the deal. Just Trying to not make a bad decision with how crazy **** is atm and it’s my first deal I’ve really found that I really like just because doesn’t seem often we get the shot at owning a duplex for a good price.

 Taxes are $800, insurance $1200, one side need renovated will not see till tomorrow so will give me a better idea of get ready cost i figured another 10k just guessing. Im going to try to manage with my finace or by myself. Will do some shopping around for lender but i was worried to put to many hard inquires on my credit. Doesnt matter i guess?

 I wanted to keep to build my portfolio, but honestly new to all of this.
ARV i would say is anywhere between $150-170. Especially with it being a
duplex.

I recently had a real estate agent bring me a deal on a duplex that is

off market. 2 bed 2 bath brand new hvac, blown in insulation, new

windows, new siding. One side interior not completed other is ready to

go. He does have a lot of materials for the other incomplete side. 100k

they want for it. My lender called me this morning and with 15% down

said it would be a 7.6 interest rate but i would have to pay SO many

points to acquire the loan so closing cost will cost me like 9k. What

would my best option? My credit score was 762 and I'm coming up with

15%. The units are only 1 bed 1 bath, so in the area could only rent

from 550-650 most likely. I have never invested in real estate other than my primary home which is actually less money than what my investment property would be. Just looking for insight or tips if its worth the amount of capital that it will take for me to get this started.