Ahh! The stress!

[Dustin Beam]

Man, I wish this was all easier on me. haha I imagine in the future it will be. But I'm supposed to meet the seller today to sign a contract on 12 units. 

It's been a long road as they are FSBO, so all negotiations have been done directly with seller. I'm waiving inspection rights (already had it done). Bank has already approved me. Basically only contingency is appraisal.

The thing is, since I don't own any rentals now, I'll be trading the "I hope it happens" stress for "I need to learn more about the day to day of being a landlord" stress haha. It's a good thing though, but not good for my sleeping habits! :)

[Dustin Beam]

Originally posted by @Justin Fox:

@Dustin Beam

Thanks for sharing!  Would you mind giving details on term/rate for the loan, estimated property tax and insurance cost?  I bet that's exciting, putting that much down like a boss haha.

Thanks again.

20 year ARM, adjusted every 5 years. That's a bit scary for me since I'm not used to it but figured people make it work, so I can too. 4.25% for the first 5 years.

Taxes are around $7-8000 per year total. I used actual values in my analysis, but don't have them in front of me. Insurance was quoted at $400/mo for all.

And yes it's exciting, but I'd be a damn liar if I said it wasn't scary too! haha 

All gas, no brakes baby