Profile picture for HappyBoii

In the process of closing on a foreclosed duplex...

The price of the duplex is $134,900. the bank wouldnt go any lower. My interest rate is fixed at 4.5 for 30yrs. and my monthly payments is $1000.45. Is this a good deal?
  • August 01 2010 - San Mateo
  • 0Yes

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Answers (7)

Yes.... Especially if you can rent each side of the duplex out for $1000 each. You'll make $1000 once a month just for breathing.

Do that 9 more times and you'll be able to take a vacation for about 10 years:)
  • August 01 2010
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Profile picture for Pacita Dimacali
In San Mateo? A duplex for only $134,900? You better believe it!

There was a time, and probably is still the case, when you can't buy a condo for under $300K.

Are you going to live in one unit and rent out the other? Good for you! Make sure you consult with your CPA regarding the tax deductions applicable to owner-occupied income propert.

Congrats!
  • August 01 2010
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Hey HappyBoii,

Here's a link to some of the calculations investment buyers should know.

Seems as though you've made an excellent buy assuming the rest of the numbers work.


  • August 01 2010
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Congrats it sound like a good deal if the cash flow is there.
  • August 01 2010
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Profile picture for Alan Grizzle
Is the location good? Do you expect/know that you can keep it rented?
If the location is good and you keep it rented and have normal repair cost it is a good deal. If the location is bad and it is hard to keep rented and you have to work on it all the time it is not a deal.
  • August 01 2010
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Profile picture for cneure
Are you getting this duplex in San Mateo, or is it out of your area?  In my market, I sell a lot of REO's.  The asset managers controlling them seem to have about a 5-10% leeway from their asking price.

I guess the second question I would ask would be, what are you planning to do with this duplex, live in it or rent it out or both?  Then if your cost compared to what you can make in rents or what you would pay to live in another situation is lower, this is a good deal.

I suspect, you got a good deal.
  • August 03 2010
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Profile picture for H1N1
  • H1N1
  • 32 contributions

Where is the location in San Mateo, CA. It is very good deal.

  • September 06 2010
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