Greetings to all on the forum,
I am new here and am enjoying the wonderful content in this forum.
I am new to the real estate arena, and had a couple of deals that I wanted feed back on.
Thank you for your time in advance if you do reply.
I wanted to know on a scale of bad, medium or great, what you guys think about my idea on these deals .
all deals cash , because my current employment is 6 figures
most of these properties are two family homes in the hood, you can rent them easily and get good tenants, avg rent is 600-700 per unit.
here is scenario one,
my uncle just purchased a 2 family for 7k (auction) and needs 2k in repairs, he has already rented them out for 650 a unit.
15,600 per year is what property will produce yearly.
is this a good deal ?
the one im looking at is a 2 family same area for 10k and needs 12k in repairs avg rent would be 650 per unit.
my goal is to have a portfolio of 2 family homes, creating a passive residual income for me.
Is this a good road to start with ?
I need your input/feedback
I am new here and am enjoying the wonderful content in this forum.
I am new to the real estate arena, and had a couple of deals that I wanted feed back on.
Thank you for your time in advance if you do reply.
I wanted to know on a scale of bad, medium or great, what you guys think about my idea on these deals .
all deals cash , because my current employment is 6 figures
most of these properties are two family homes in the hood, you can rent them easily and get good tenants, avg rent is 600-700 per unit.
here is scenario one,
my uncle just purchased a 2 family for 7k (auction) and needs 2k in repairs, he has already rented them out for 650 a unit.
15,600 per year is what property will produce yearly.
is this a good deal ?
the one im looking at is a 2 family same area for 10k and needs 12k in repairs avg rent would be 650 per unit.
my goal is to have a portfolio of 2 family homes, creating a passive residual income for me.
Is this a good road to start with ?
I need your input/feedback
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