All Forum Posts by: Walter Bounds

Value is 64k. I am assuming its a larger repair I haven't noticed. The zipcode its in (43612) has duplex's that run between 80k - 100k. I have not seen the property in person just online. I will go see it in a week or two. 

I am a newbie to the investing game and I am looking to purchase my first investment property. The property is a multi unit 4 bed 2 bathroom that cost a total of $67,500. Both units currently rent at $550 so the total rent collected per month is $1100. I anticipate there will be some needed repairs like new siding, new appliances, and the general appearance around and in the property. The property is 11% below the zip code home value so I anticipate if I put some work into the property the value will shoot up. 

On paper everything looks good, however its been sitting for 150+ days on the market. Is this a warning sign to stay away? The deal seems to good to be true.