First Property Up and Running - FINALLY a REAL Investor!
Hi everyone - I have finally hit a major milestone and I wanted to share it with this community. Over one year and three failed contracts later, I have finally purchased an investment property, fixed it up, and rented it out.
Full album here. I had an uploading issue this morning with the upstairs unit but I will add the photos to flickr later tonight.
The numbers:
Property Type: Two-flat in a quiet neighborhood on the west side of Joliet, IL. Elementary school across the street!
Purchase Price: $20,000 Cash (It was an REO)
Repairs: $4,500 (consisting of windows, minor plumbing, and cosmetic issues)
Rent: 2/1: $700/mo. 1/1: $650/mo
Getting ready for property #2!