All Forum Posts by: Davis Bunn

I wanted to get people who invest in Raleigh to give me their thoughts on buying a duplex in garner. Really looking for anything to do with the local economy the population that lives there currently and the population moving to the area. Any input and advice is welcome.

My first number weren't exact so I uploaded my spreadsheet to make it easier to analyze. 

First multi family I'm working on in Raleigh NC. 

Sale Price $250k

Quad monthly rentals $700/mo x 4 =$2800

Expenses (including tax) $800/mo. This is my estimate averaged with what current owner has listed. I will self manage. 

No large capital expenditures are expected units and quad are in good shape. I am going to have an inspector go through and check out everything.  Newer HVAC and appliances. C+/B- neighborhood. 

25% down = $917/mo PI

Cash flow = $1,083/mo ... $271/unit

I also believe the market rent rate is $750-$800. So room to eventuall raise rent. 

This deal seems good to me in a market where deals are hard to come by. Please give me your thought on going through this process. What do I need to find out. 

New to the BP site and Buy and Hold investing. Currently I have one rental property in downtown Raleigh and am looking to learn more about the industry and looking for more rental opportunities.

Feel free to share ways to learn about this new interest.

Davis