Full time JOB, Full time Single MOM.....and now Full time LANDLADY!
Bought my first deal and now its rented! I have a full time JOB, I'm a very busy single mom and now I'm a full time LandLady :) Here are the #'s:
Purchase Price: $78,900
Down Payment: $7890
Repair Costs: $1200
PITI: $585
Rented: $975
I'm happy with these #'s, it is my first deal and I've learned a lot already. I'm excited to take what I've learned and start looking for my next buy and hold deal.
Now I know what's coming next....all the 2%er's can have at it! (hard to get a 2% deal in my area)
Annnnd...GO :)
Most Popular Reply
@Leigh C @Amanda Sutherlin Paying asking price is not, by nature, a bad thing. Paying an amount that does not cash flow is an issue. Sometimes, in some markets, paying asking price makes sense. I did it on one of my properties that is in a B- neighborhood and was a steal. I was not going to risk the chance that the seller would delay to negotiate and get a better offer from someone else. Could I have gotten it for less? Maybe. Could I have lost it by trying? Probably. I have also bid over asking price. And yes, there are properties that I would not buy at 25% of asking. The deal speaks for itself, not just one part of the deal.
Quote of the day: A good deal is a good deal, regardless of percentage of asking price that you pay.