We'll close Feb. 28 and we have to be out of here in 4 weeks!
We've been looking for a not too expensive duplex. Actually we found a good priced quadriplex that we are seriously considering. It's an 1930's house that has already been gutted and framed for four - 2 bedroom/1 bath units.
It has most of the plumbing and electrical already completed. And it's in a real up and coming, hip part of town. Real estate in this area has appreciated over 300% in the last 2 years. I can't imagine us going wrong with this. We'll live in 1 unit and rent the other 3 out. We're paying cash and will own it straight out so the rent money will possibly pay utilities, insurance and taxes.
We have a call in to a few general contractors for estimates. If the prices are right then we are off to the races. Oh, and the quad is in foreclosure with a holding company, and we should be able to get it for dirt cheap.
Keep your fingers crossed, ok?