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Is a $20,000 duplex in Cleveland a good first real estate investment?
I want to get started in real estate investing and Cleveland just happens to be where I’m from so it’s going to be the easiest place for me to start. I found a duplex for 19,900 listed by the bank in good condition, maybe needing a paint job and new carpeting. How much could I rent each unit for and is it easy to find tenants in Cleveland? Is it a smart first property?
6 Answers
- Anonymous2 years agoFavorite Answer
Do you even have $20,000?
First, join a real estate investors club and offer to help real investors. Maybe in return they will keep you from making a huge mistake.
By help, I mean do things like cut their grass for free.
- Raymond L.Lv 52 years ago
For real???? in western Oregon you cant find a duplex for less than $320,000????
- realtor.sailorLv 72 years ago
That sounds really cheap. Make sure your contract contains an inspection period and the right to cancel if you don't like the results.
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- Anonymous2 years ago
You do understand the current state of things in Cleveland, right?
- Anonymous2 years ago
Three rules in real estate; 1. Location, 2. Location, 3. Location.
