All Forum Posts by: Andy N.

@Stephen Leblanc so you bought a duplex for 35K and it will have 1400 income? That’s awesome! It is so hard to find deals like that in my area. There are a ton of investors here. You just don’t see rentals with that potential sell here. I wish I could find an opportunity like that in my town!!!! Cograts!

Steve Im new the 50% rule. Can you help me out here is what im looking ill show the most realistic options.

Option 1 purchase for 55,000 put 20%(11,000) down for 15 year @ 4.5% Rent each side $425

Rent $850
Tax/ins 125
Pmt 336.60
Profit-388.40

Here is where id like to see it as new tennants come. I could make the rent $475 so it would look like this.

Rent-950
tax/ins-125
Pmt-336.60
Profit-$488.40

Thoughts? Thanks! Andy

I will be managing my self. 1 unit is been updated in the last 2 years. The other could stand it but I dont think its necessary at this point. I feel like I could go 2 years and not have to spend much at all. That will also let me build up a little of the cash flow.

Trey, thats figured on 12 month occupancy. My notes are 15 yr.

What do you all think of this deal. What would be your questions or concerns? Thanks for any input.

I have found a duplex. Its 2 bed 1 bath each side. 1,400 sf total. It rents for $425 a side and both sides are currently rented. For the area the rent is to cheap. I feel like it should get 450-475 easy enough. Asking price is $60,000.

Rent $850
Tax/ins $125
Pmt-$459.00(thats financing 60@ 4.5%fixed for 5 years on a 15 yr note)
Profit $266

Here are the variables-I think i could get it for 52-55K. I could also put 10-20% down if i need to. Which would bring the payments down and I really feel that as a side came open I could rent for $475.00

Thanks in advance for your opinions!

I am fortunate to have a very solid emergency fund. I agree the $175 is light what do you try to make per month profit? Mine are all on 15 yr notes.

Sorry that last post is so choppy. Made it from my phone and it looks totally different.

Thanks for the feedback! I'd like to get some multi family in the future. There are a LOT of sfh investors in my area. It really makes deals hard to find. I wish I could snap my fingers
And have 10 units. I know it's a long term process
But with 4 making $175 a month it's hard to see much cash build up. I'd like my rentals to bring in what I make at my full time job. Then I could really see savings. I know 2
Individuals in the same family that have 16-20 sfr free
And clear. I want to get to that point some day. I'm not a big spender do I'm not concerned about having the income to spend. Thanks for any
Input.

New to BP and enjoy all of the info here. A little back ground on me.

I am 26 and started buying and selling a few rentals @ 20. I have decided to buy and hold and currently have 4 rentals that rent from 550-650$ a month. I own my home free and clear and I am ready to build a real rental portfolio. I would consider my homes more appreciation homes. 3b 1&2 bath homes. I make avg $175.00 each property each month after all expenses.

I feel like I would like to work up to ten properties. Any advice for a young investor?