All Forum Posts by: Ryan Gruenwald

Good to meet you guys, I actually am a newer real estate investor as well and live in Johnstown, Ohio. Looks like there are a lot of us around the area. 

Hey Chris,

Thanks for the reply, appreciate the feedback.

So yes it is $6000 per month on rents, but part of the proposal includes giving the seller $550 per duplex a month so 6000-3300 = $2700 net

Part of the agreement also is the seller pays the taxes so that is a plus. 

Location is C class working neighborhood, still need to get more info on tenants and need to run inspections to see if any major repairs are needed, but they are currently inhabited so I wouldnt think anything major is needed at the moment. Comps are anywhere from 40-60k

Hello,

I am a newer real estate investor (currently own 3 rental duplexes) looking for advise/feedback on a recent deal I was presented with. Just hoping for some opinions on whether or not to pursue the offer.

The seller is offering the following: (all properties are owned by the seller free and clear)

Deal city = Indy

- Initial investment = 20% down for 6 duplexes (roughly $60k down total)

- I agree to pay the seller $550/mo per duplex for 10 years. (regardless if its vacant or not)

5 out of 6 are currently rented to tenants

each duplex (assuming fully rented) generates $1k/month in rent, so $6k total

According to my calculations, it seems like a good deal, the only hangup for me is being locked in to paying the seller $550/mo per duplex for 10 years.

Would you guys consider taking this deal?

Thanks,

Ryan

Hello,

I am a newer real estate investor (currently own 3 rental duplexes) looking for advise/feedback on a recent deal I was presented with. Just hoping for some opinions on whether or not to pursue the offer.

The seller is offering the following: (all properties are owned by the seller free and clear)

Deal city = Indy

- Initial investment = 20% down for 6 duplexes (roughly $60k down total) 

- I agree to pay the seller $550/mo per duplex for 10 years. (regardless if its vacant or not) 

5 out of 6 are currently rented to tenants 

each duplex (assuming fully rented) generates $1k/month in rent, so $6k total 

According to my calculations, it seems like a good deal, the only hangup for me is being locked in to paying the seller $550/mo per duplex for 10 years. 

Would you guys consider taking this deal?  

Thanks,

Ryan

Thanks guys.

To answer your questions, both properties are in Indy. 

1. Still need to better research price and rent in the neighborhoods

2. probably put 20% down and get a loan for the rest

3. I wont be doing the rehab myself

Long time reader, first time poster looking for some advice on a couple deals I have come across. 

Basically just want to see what property would be best to buy as a long term hold - Property 1/2 or neither. Appreciate the feedback. 

Property 1 =  Duplex 

Acquisition Cost - $38000

Rehab - $10000

Rent - $1125/month  ($562.50 each side)  

Property 2 = 4 Plex

Acquisition Cost - $86000

Rehab - $40000

Rent - $2400/month ($600 each side)