All Forum Posts by: Joshua Mckenzie

I know that I'm looking for properties in my market. I don't have answers to the other questions yet. I'm not ready, just thought this place would help me get ready

@Joshua Mckenzie

Glad you got your tickets early! They are going fast! See you on Saturday Morning. 

@Dennis O'Loughlin

sorry if I am not understanding but... it sounds like most of these options are just using debt to take out more debt.  you're not really 'paying off a loan' on a property if you're using a different loan to do it. and if you use debt as a down payment on a property, and finance the rest with another loan - that's a very expensive way to buy something. and you most likely will lose money.

only you can decide what's best for you

let me know if i am missing something

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This property was listed $320K

Duplex with basement and 3 car garage in a Class B neighborhood . Multiple improvements done on this duplex in 2021, including new roof, gutters, flooring, drywall, electrical, appliances, and heating/cooling unit for the second floor. This duplex features a large backyard . First unit includes the first floor and basement, with 2 bedrooms and 2 full bathrooms. Second floor unit has one bedroom and one bathroom. First unit lease is up for renewal on 10/31/2024 and has a good long term tenant. Second floor unit will be vacant on 8/31/2024. Tenants pay for gas and electric, owner pays for water. Good income generator for both units and also gives the opportunity for owner occupancy. Current total monthly rent is $2675.

I am offering $260k. Would you consider this a good deal. I utilized 7% for CAPEXand 7 % for maintenance given recent updates .

Tenant pay for electricity and gas. Landlord pays for water. Don’t know if there is a way to push water payment to tenants

is this a good deal ? All opinions are welcomed?