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All Forum Posts by: Tim Varner

Tim Varner has started 0 posts and replied 1 times.

Post: Duplex- First One So Need Help Analyzing!!

Tim VarnerPosted
  • Shaker Heights , OH
  • Posts 1
  • Votes 1
Hi Kelly, I’m new to investing and new to the site so take my advice for what it’s worth. I recently purchased a duplex this past summer so I’m starting to learn on the fly along with the help of the podcasts. For many of the expenses you can estimate based on a percentage as found in the BP calculators. Obviously you will want to know something about the condition of the property i.e. what repairs are needed. It would appear that they have recently done some repairs so that is a good start. When you have an inspection done you can always renegotiate if something major is found. My place is almost 100 years old so there was plenty in the inspection that wasn’t a necessity to have repaired. Don’t let that scare you away as it almost did me. You should find the taxes on the county assessors website. This with any repairs and an idea of what other similar duplexes have sold for should put you in a good position to put in a competitive offer. I don’t personally think rent roll is necessary on a duplex especially when the owner was living on one side. Again I’m fairly new to the process so maybe someone would have a different opinion. Good luck! Tim