Im finally getting started doing what I've been dreaming of for y

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Im finally getting started doing what I've been dreaming of for y

Jeremy James Hartman
Rental Property Investor 路 Hastings, NE 路 Member since 2019 路 38 posts 路 11 votes

Just made my first offer on a two for one. Main house with and extra house on an extra lot with it's own address. I think it was a good deal.

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Michael Heisterkamp
Member since 2020 路 122 posts 路 62 votes
6y

Congrats!  Welcome to the game.

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  • Jeremy James Hartman
    OP
    Rental Property Investor 路 Hastings, NE 路 Member since 2019 路 38 posts 路 11 votes
    6y

    Offer was accepted!

    1Reply
  • Michael Heisterkamp
    Member since 2020 路 122 posts 路 62 votes
    6y

    Congrats!  Welcome to the game.

    1Reply
  • Jeremy James Hartman
    OP
    Rental Property Investor 路 Hastings, NE 路 Member since 2019 路 38 posts 路 11 votes
    6y
    Originally posted by @Michael Heisterkamp:

    Congrats!  Welcome to the game.

     Thank You!

    0Reply
  • Evan Polaski
    Cincinnati, OH 路 Member since 2020 路 4k+ posts 路 3k+ votes
    6y

    @Jeremy James Hartman Congrats!! If you are like me, you just need to trust your initial instincts when you start second guessing what you have just done. 馃榿

    0Reply
  • Jeremy James Hartman
    OP
    Rental Property Investor 路 Hastings, NE 路 Member since 2019 路 38 posts 路 11 votes
    6y
    Originally posted by @Evan Polaski:

    @Jeremy James Hartman Congrats!! If you are like me, you just need to trust your initial instincts when you start second guessing what you have just done. 馃榿

    Yes. I Just did it. I knew it was a good deal. i paid higher but got him to do repairs so that i wouldn't have to out of pocket. ill only have 2,500 of my money into it. like 44% ROI.

    0Reply
  • Jeremy James Hartman
    OP
    Rental Property Investor 路 Hastings, NE 路 Member since 2019 路 38 posts 路 11 votes
    6y
    Originally posted by @Evan Polaski:

    @Jeremy James Hartman Congrats!! If you are like me, you just need to trust your initial instincts when you start second guessing what you have just done. 馃榿

    Thank You!

     I haven't done much second guessing. You can understand why with these numbers.

    Purchased for $175,000.00, I'm so pumped! I'm ready to buy as many as I can, as fast as I can.

    $2,250.00MONTHLY INCOME,$1,410.26MONTHLY EXPENSES,$839.74MONTHLY CASHFLOW,

    8.60%PRO FORMA CAP,$19,350.00NOI,$27,750.00TOTAL CASH NEEDED,36.31%CASH ON CASH ROI,

    11.06%PURCHASE CAP RATE

    0Reply
  • Evan Polaski
    Cincinnati, OH 路 Member since 2020 路 4k+ posts 路 3k+ votes
    6y

    @Jeremy James Hartman sounds like you found a great property to start off.  Keep it up!

    0Reply
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