Updated almost 19 years ago on . Most recent reply
First Real Estate Investment Property
Okay , yes I am a super-newbie, yes I know you hate newbie so....
Bought my first property for the sole purpose of investing.
Not buying my home first and moving out later.
Okay paid 190k less 5k closing put 42k down.
Interest only mortage 6.875% for the first 10 years/30 year mtg.
Filled out a form for section 8 housing.
I am going to let weichert find me a tenant because its 20 miles from where I live.
I put an ad on craigslist, just hoping for feelers.
http://washingtondc.craigslist.org/nva/apa/244007813.html
So far nothing, no calls since last thursday, yes I know its only 6 days , but I guess I am nervous about being vacant all winter.
I have enough saved that I could pay for the mortgage no problem.
But like someone said you don't want a savings account investment where you are putting in all the principle out of your pocket, you want to make money off the rent.
Any good tips on finding tenants? What is a good thread on this board to find tenants.
Thank you for your help.