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re: Duplex as Investment Property?
Posted on 7/16/14 at 10:56 am to RadTiger
Posted on 7/16/14 at 10:56 am to RadTiger
Sales price is $165,000. I will put down 10%. Finance around $150,000.
Insurance was included in the mortgage price. Being empty is not really a problem around Texas Tech. If even one side is rented is almost pays the mortgage alone.
For the most part there is no yard. What yard there is, I will probably install artificial turf.
I am a general contractor and can effectively take care of some of the maintenance issues or know subcontractors that would do it at a discounted rate, especially if they want other work.
Insurance was included in the mortgage price. Being empty is not really a problem around Texas Tech. If even one side is rented is almost pays the mortgage alone.
For the most part there is no yard. What yard there is, I will probably install artificial turf.
I am a general contractor and can effectively take care of some of the maintenance issues or know subcontractors that would do it at a discounted rate, especially if they want other work.
3
Posted on 7/16/14 at 11:13 am to thelsutigers
If your making profit , sounds like you should do it, isn't that the point?
Posted on 7/16/14 at 11:16 am to thelsutigers
With that reply sounds like a no brainer to do it.
Posted on 7/16/14 at 1:30 pm to thelsutigers
If it's for college kids, you want to have a safe place for them to live, and spend as little as possible. College kids like to trash things, so no use putting in expensive stuff just to have to replace every time you change tenants.
Given you are a contractor, this might be a great fit for you. You can do most of the work yourself and save a lot of money.
One thing I would look at is how property values have gone the last 5 years and what else is happening in the area.
Given you are a contractor, this might be a great fit for you. You can do most of the work yourself and save a lot of money.
One thing I would look at is how property values have gone the last 5 years and what else is happening in the area.
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