How do i know if the property i've purchased is a good investment?

I recently purchase a duplex in Easley South Carolina.I did 100% financing, Even thought the monthly rents cover the amount of the mortgage,it seems to me that i am spending too much money on repairs for the tenants.
My initial plan was to hold on to these units for at least five years but now i am uncertain as to what i should do.

This is a question that should have been asked before you purchased the units. Now is little to late to decide if you have made a good investment.

What type of repairs are you performing? As a land lord repairing units are an ongoing thing. It simply is not collecting the rent each month, depositing it in the bank and paying your lender.

What are you gonna do when one of your tenants tell you they do not have the rent for the month and they are not gonna move.

I would suggest that you find and join the Apartment House Association nearest you.

They have rental agreements, a way for you to run credit reports, local laws and customs for your area covering land lords and tenants. They might also offer legal assistance for minor questions you might have.

They also hold monthly meetings and publish a monthly magazine for the benefit of it's membership.

For the problems you can not repair you should have a person that is on standby for you. It will be too late when you have a water problem at 2AM in the morning and your tenant is calling you (for some reasons the water heater or pipe breaks only in the wee hours of the morning)

Keep with your plan, learn how to be the best land lord around, you still have a solid plan. It just did not include repairs and tenant problems. Now you know

I hope this has been of some use to you, good luck.

'FIGHT ON"

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