First Duplex

I found a duplex near an area that has a not so bad reputation, meaning in that area there’s a small area with low income people but for the next 10-15 years the city wants to renovate this old looking city from the 1930s. It’s a nice area but the people make it and they want to make it nicer. Details: it’s near the marina where in the summer there’s regattas race, festivals, its downtown, college, hospital there already just near the U.S. and Ontario; perfect place I think. I need your opinion; the prices well not more than $200,000 and they are building and expanding the city as we speak. There are homes and condos valued more than $300,000 but I know the area inside out. As a first investment I have that special feeling, I need your experience perhaps future business…

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Apr 01, 2013
RE: First Duplex
by: Tom Karadza

Hello,

Thanks for your submission... I would need more specifics to be able to help you out.

As a general rule we would encourage you to buy properties that generate more monthly income than they create in monthly expenses. If that's the case the positive changes in the area are a great bonus.

Tom.

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