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
now one tenant is paying that $1038 and the other unit is vacant
Even if it was rented for $1038 it’s still a crap deal. NEXT!
$2,076 gross rents with a purchase price of $235K? That’s not even one percent. OUCH!
Dumb deal, next!
Keep looking. You won’t make money so why buy it? Whoever appraised that property is a fool.
Moving on thanks guys!
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?