All Forum Posts by: Jordan Wisser

Hey all! Looking for some advice/guidance on whether or not to pull the trigger on a prospective duplex. It’s in a great market & neighborhood. Pre-inspection, it appears to be a solid opportunity. Great property, perfect setup for a duplex with separate driveways, entrances, back patios w/ storage, brand new roof, plumbing, newer HVAC, appliances, flooring, etc. Basically a turnkey investment with all new interior upgrades that is poised to bring in solid rental income.

The downside right now is current interest rates. I’d be looking to purchase with a conventional loan, 25% down, at about 7.99% rate currently. The property should cashflow about $400/month before budgeting for vacancy/maintenance/capex. I’m thinking maybe I don’t need to worry so much about accounting for maintenance & capex in the first couple years since a lot of those big-ticket items are brand new/recently upgraded?

My hesitation is that after accounting for all of the items you are supposed to account for when analyzing a deal, the CoC return on the down payment is pretty much negligible initially. I would obviously plan on re-financing when the time is right, which would make the CoC returns look a whole lot better. On one hand, I feel that it is a great property and a great time to buy while competition is low. Once rates do fall, I think prices will definitely increase again as competition heats up with buyers re-entering the market. But on the other hand, I'm hesitant to invest in a deal where the margins are thin initially even if I do plan to re-finance. I've heard from some investors that are perfectly okay with simply breaking even on rental properties in the current market, but I've never had the risk tolerance for that.

Any thoughts/guidance/mentorship/advice would be greatly appreciated! Thanks BP community!

Hi @Rick DiAgostino! I'm currently house hacking as well in Atlantic County and recently closed on a SFR out of state. Feel free to send me a PM on BiggerPockets or reach out to me on LinkedIn and we can discuss more!

Hello BP community! I am a South Jersey native with a couple of deals under my belt looking for other investors to network with who have done a few deals and are looking to add more. Love talking real estate and hoping to learn from one another as we all work towards our goals! Let me know if anyone out there would like to link up!

@Vaughn Smith Thank you sir! I greatly appreciate your input.

Hello! I'm in the South Jersey area right outside of Atlantic City and currently searching for my second deal. I'm looking for tips on how other local investors analyze real estate markets? I'm familiar with my local area, but want to start branching out when looking for deals. What tactics do you employ? What websites are useful for analyzing markets? Thanks!