All Forum Posts by: Paul Nagy

I also agree that by both covering my monthly nut with 1 unit rented and having a monthly profit of over $600 makes financial sense. Plus, I'm 35 years old and planning on keeping these properties for quite some time (15-25 years?) Therefore, even if the numbers are only so-so financially it's probably safe to assume that in 10 years from now each unit could safely rent for between $800-$950 while the total payment would probably only increase by $75-$100 to account for an increase in taxes and insurance. Therefore, what seems like a good deal today could very well be a GREAT deal tomorrow!

Thoughts..?

Hello everyone! I'm a newbie to multi-family, I currently own 4 single family homes but this will be a new venture for me. I'm looking to buy a duplex in Lawrence KS and wanted to run it but all those with experience to see if on the surface it looks like a good deal. Here's the details:

Purchase price - $125,000

Down payment - 20% = $25,000

Principal & Interest - $470

Taxes & Insurance - $130

Total monthly payment - $600

Each unit is currently rented at $625 per month. Each unit is 2bd, 1bth with a 1 car garage. Duplex is in good overall condition and does not currently need any work.

Thanks in advance for everyone's help!
Paul~