What do you think?

Tunckey06 · November 7, 2007, 1:39pm

What do you think I should offer on this duplex 4bdrm 2bth comps say appraise at $385K asking is $235 one tenant sec. 8 paying $1038.00 What do you guys think deal or dud

Rich_in_CT · November 7, 2007, 2:33pm

Dud.

BLL11 · November 7, 2007, 3:28pm

Tunckey06 · November 8, 2007, 1:39am

now one tenant is paying that $1038 and the other unit is vacant

Rich_in_CT · November 8, 2007, 1:51am

Even if it was rented for $1038 it’s still a crap deal. NEXT!

propertymanager · November 8, 2007, 12:46pm

$2,076 gross rents with a purchase price of $235K? That’s not even one percent. OUCH!

Mike

Salverston · November 8, 2007, 7:39pm

Dumb deal, next!

artyman1200 · November 8, 2007, 9:38pm

Keep looking. You won’t make money so why buy it? Whoever appraised that property is a fool.

Tunckey06 · November 9, 2007, 2:03am

Moving on thanks guys!

propertymanager · November 9, 2007, 12:41pm

Tunckey,

You’ve been on the forum for quite a while now and have seen many deals discussed. You need to develop a criteria that YOU use for judging properties. Have you tried to come up with a set of rules or criteria that you will use to determine whether a property is a good potential purchase? If so, what are they?

Mike