All Forum Posts by: Pete Krzak

Mike were you up at the Peek? I did find out that the meters are seperate. My rent is 550.00 and he pays the bills.... Anyway I decided to take your guys advice and pass on it. I am now looking at a duplex for 50,000 and is generating $1,000/month rent. Jon thats again with the number crunching. I used the basic method and am looking forward to purchasing this apt.

Thank you again Jon for breaking that down for me. If there is any other advice you wish to give out please let me know. I would love all the help I could get. Thanks again!!!!!

Jon anyway you could share how you crunched those numbers so fast. You truelly know what you are talking about. I would love it if you could give me some advice on mentors or books that could help me out with properties that I was to hold. Thanks for everyones help, I'm just so eager to get my first deal done but I want to get it done the RIGHT way. You guys are truely a blessing!

Jon the asking price was 109,900... I wasn't going to buy it at that price.
The real estate market here in Erie,Pa is still very strong. I still do not know how I will be able to get this property for $70000. What would be the highest amount you would offer if you were to buy it?

I am thinking about buying this duplex. Could anyone get me their advice as to whether or not its worth it.
Asking Price- $109,900( fully remolded new windos, carpet, etc)
bottom tenant pays- $550.00 per month including gas and electric
top- Vancant, Have new tenant that wants to rent for $600 per month in April
Comps in the area- $90,000 to $100,000
Taxes-$2,151
Square ft- 2,220
Seller assistance-$3000
* I am a first time home buyer and am pre-approved for 30year 5.125%. I would like to buy this property with 3% down but would have to live there to do so. If I rent both sides out then they want 20% downpayment. Any thoughts about what I should do?

well the bank said that if I lived there that I could put down 3% but if I rented both out then it would be 20% down. Is there anyway of getting around the 20% without actually "living" in the duplex. I'm trying to rent both out for potential monthly income!

I need to verify if this is true. First off I am looking to buy this deplex for $109,000. There is a tentant living there now and another that wants to move in around April. I want to purchase the property but they are telling me since it is an investment and I don't want to live there its 20% down payment. I would like to only put down around 3% on an FHA loan. Is there anyway other than living there to get around putting up the 20% down. Please HELP!!

expected rent should be around $650 per side. Where I live that is actually considered a moderate payment per month for rent. Let me know and thanks for all those who have responded already. You guys are a great help!

The situation I have is there is a duplex for $115,00. I want to rent out both sides and use one to pay the mortage while I bank the other side. Does this sound like a good idea or should I just use both. I will not be living there so I can just put both sides for rent. Let me know thanks!

20% down.... could I do 10% of my own then use hard money the rest?