Updated about 15 years ago on . Most recent reply
Help! Got a good thing going, and I don't want to mess it up!
I've been on here a couple of days already and I'm loving the discussion. Ok. I'm really just getting started in earnest. I have one property, an older but stately three unit in the downtown area of my home city. I've decided to go high end with this one, but I bought it right, so right now my numbers are:
Note taxes and insurance-$860 (15 year)
Water-60ish
Rents-$2200
Like I said, I bought it right, and made some cosmetic improvements. That said, I think it could appraise for significantly more than I bought it for. My wife and I find that out next week.
Best case, if it appraises out at around 105k, (which it may not, there are few comps and the place is older)
I'll have around 30k to play with. So I'm thinking the next logical step may be to use that as down payments on more properties or just one down payment on one property. I guess my question is, what do you do in my position? I feel like I have a really good thing going here and I want to try and keep it stellar. What are your thoughts?