Do you think this is a good investment?

[aceofspadez]

A duplex in Atlanta ive just submitted an offer on. Its a foreclosure,  goes for 118,000 but i submitted an offer for 90,000. Its 2 beds and 1 bath on each side, street parking. It needs 2 fridges, 2 stoves, and 2 ac units to be rentable. Neigborhood is Ok, its down the street from a few colleges(morehouse,spleman, clark). I figure i can rent it out from 550-650 a side. Here is a link http://www.realtor.com/FindHome/HomeListing.asp?snum=52&locallnk=yes&frm=byzip&mnbed=0&mnbath=0&mnprice=0&mxprice=99999999&js=off&pgnum=6&fid=so&stype=&mnsqft=&mls=xmls&areaid=30314&poe=realtor&zp=30314&sbint=&vtsort=&sorttype=&typ=4&x=44&y=15&sid=07F20086C4F2C&snumxlid=1071622183&lnksrc=00001
 (dont mind the trash, i went to look at it on saturday and it was cleaned up)

[yrush2000]

You need to work all the numbers, at least the basics of taxes and insurance.  If its local you probably wont use a mgmt co. But you want to try and cashflow at least $400 per month total. I really do not see that,  You should of offered around 55K, and yes it is a lowball offer ,but the bank will counter offer you and you can play from there.  Also do not be afraid to ask for closing cost in your offers.  I find the best offers will include a good size escrow till closing. Say you agree to escrow $10,000 and still your closing cost is only $5,000, you will get the difference back. But banks like to know your serious and it helps.