DFW REI Club

 Dallas/Fort Worth Real Estate Investor Club

2 Duplexes for $55,000 ea/leased at $650 X 4= $2,600mo. =$31,200 anual!!!!

  • 19 Feb 2013 9:55 AM
    Message # 1212296
    Deleted user

    I have 2 duplexes in Fort Worth 3-2 each side. 1825 and 1829 Etta St., 76105 total of 4 units, each building is around $2,500’ with central heat and air built/remodeled around 2003-2005 I think. Units have 6 month leases for $650. Three tenants are current on their rent, one is not and may need to be evicted. Total rent should be $2,600-$3,000 (recommend sec 8 tenants as units are close to govt. Housing). One building needs foundation repairs. I have a bid for $3,500.

    We took these duplexes back through foreclosure in Nov. 2012. One of the tenants that was there before did not put a deposit down, but lives very clean. The other two just signed on 1-15-13 and 2-1-13. They put $100 and $200 deposit down but did major cleanup and cleaning to their units.

     I would like to net $55,000 for each building, $110,000 total. I would also like to retain mineral rights. You could make $10,000 by selling them to another investor for $60,000 each, which is what they are listed for.

    They are tax appraised around $150,000.

    Let me know your thoughts.

     

    Adam Pendleton

    817-401-5682

    adam@casaunlimited.com

    e-mail me to request photos


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