I've had my license for 9 yrs. 2 as a broker.

You are probably right Wayne, but the notion that somebody that is 18 yrs old that never graduated high school with a newly minted re license has "superior knowledge" in the eyes of the law over a non-licensee like J Scott or K.

I plan on sitting for the General after the 3-4 yrs experience as a CB or CR.

Economy of city is decent but I would not expect much price appreciation in the 10 yrs I plan to own the buildings.

Hey guys, What would your max offer be on the following property:Duplex (950 sq ft each) - 2BR / 1BA units.  30+ yrs old.MONTHLY INCOMERents: $500 x 2 = $1,000/month.MONTHLY EXPENSESVacancy loss (@ 8% or 1 month): $80Property Mgmt (@10% only when occupied): $100Property Taxes: $70 (from PVA)Property Insurance: $75 (estimated)Ongoing Repairs/Maintenance (@10%): $100Cap-Ex/Maintenance Reserves (@10%): $100TOTAL MONTHLY EXPENSES: $525 (which seems in-line with 50% rule)FINANCING20% down, 30 year fixed loan, 4.70% interest rate.Principal & Interest PaymentAt $55,000: $228/month --> Monthly Cashflow (CF): $247At $60,000: $249/month --> CF: $226At $65,000: $270/month --> CF: $205At $70,000: $290/month --> CF: $18Purchase price will likely be between $60,000 - $70,000, but want everyone's opinion.REPAIRS NEEDEDAt first glance, minimal repairs seem to be needed:1.)

I have been a landlord in the Rockford area for over 15 yrs and I felt a lot like you when I started.

I'm 26 yrs old and don't really want to work for someone 55 hrs a week til I'm 65 lol.

She has had the property for 3 yrs and hasn't done anything with it.

2BR / 1BA house. 1,150 sq ft. 50 yrs old.

oh they'll catch up,' or 'they've been good tenants for so long'...I also made this same mistake of letting a long term tenant (~7 yrs) try to get back on their feet, unfortunately ending up not paying ~8 months before finally evicting...A reminder to pull the trigger when we need to on enforcement of the contract.Paula Smith, wish you the best and good luck.