Got into contract for my first investment property! Now what?

Question

Hi,

i just went into contract for my first investment property. There are things that I am working on now:

• mortgage being worked on.
• have an insurance quote on my property.
• have a potential PM to manage my property for me.
• an upcoming inspection on the property

what else do I need to be thinking about from now until I close on the property? Thanks for your help!

Michinori Kaneko · Answer

Thanks Aaron,

This is in Indiana. There are minor repairs that are needed (about $3000) + I need to install appliances ($2000). These are also in the pipeline.

Aaron K. · Answer

If any repairs need to be done you should be mindful of that, also depending on the state and tax assessment you may want to consider disputing that.

Got into contract for my first investment property! Now what?

2 Replies