i want to be a landlord too...

hi :D 

please give some advice. I am new to landlordship, so I don't know what is acceptable return for real estate investment. 

A two family house is selling for $380000. Size is around 2400 to 2500 square feet.

build in 1925. Owner just renovated it, so the house is in good shape. 

Each family has three bedroom, one of the family is larger(five rooms) because attic is turned into two room(one study room and one bedroom)

my estimate for rent in nearby area is about $1350 for small unit, and $1600 for larger unit with attic. 

If I put 25% down($95000), monthly payment is around $1320. 

Tax is $4800 for previous year. 

Is this an acceptable investment in the real estate world? 

Thank you for your advice. 

所有跟帖： 

• wow... -passers- ♂ (89 bytes) () 06/27/2012 postreply 06:03:57

• return is not good on this duplex. -planotx- ♂ (147 bytes) () 06/27/2012 postreply 06:42:47

• 回複：return is not good on this duplex. -passers- ♂ (294 bytes) () 06/27/2012 postreply 07:05:54

• correct. -planotx- ♂ (0 bytes) () 06/27/2012 postreply 07:17:34

• thanks :) -passers- ♂ (0 bytes) () 06/27/2012 postreply 07:21:37

• hmm, i found it extremely hard to find 1% rule houses -passers- ♂ (141 bytes) () 06/27/2012 postreply 07:28:47

• How did you get ~0.77% ? Thanks! -calboy- ♂ (0 bytes) () 06/27/2012 postreply 07:15:07

• .77% is not the return, it is related to 1% rule -planotx- ♂ (0 bytes) () 06/27/2012 postreply 07:18:34

• oh, i forgot to mention it is very close -passers- ♂ (87 bytes) () 06/27/2012 postreply 07:18:33

• 很好了。1% rule 隻是一個參考，主要是適合於白菜房或成本髙高的地方。 -fza- ♀ (0 bytes) () 06/27/2012 postreply 07:32:55

• i see, thanks :) -passers- ♂ (0 bytes) () 06/27/2012 postreply 08:28:38