New investor first buy

[David Arrowood]

Hi I’m a new investor with plans to start full force in less than 3 years.

I found a condo with an active tenant that’s been there for three years and no plans to move. The property is in good condition. There asking $85,000 and rent is $825 a month.

I don’t quite have the 20% down but I was thinking about asking if they would consider owner financing. I would let this be my first property and continue to become debt free within the next 3 years and use this as a learning and jump into investment and own/hold.

Any advice and information would be great.

This is the west of Atlanta Ga. area.

[Sher J.]

Hey @David Arrowood awesome to hear you already wantIng to take action. However, did you include your operating expenses (capex,vacancy,prop management, hoa etc) in your analysis? This can really influence your cash flow. 

Likewise, I am searching for a property in ATL. However, especially in Atlanta you have to really understand your market from a statistical point as well as a getting a good feel of the area.