Closing on my first deal on Thursday at 21!
Hello everyone, on Thursday I will be closing on my first property at the age of 21! I just sharing because I would like to get some insight, get some advice and to see what you guys think. The property was listed for 119,000$, I am purchasing it for 110,000$. The appraisal came back at 120,000$. I put 5% down. I will also be getting sellers credit of 1,900$ because all the windows need to be replaced and so does the stove. My principal and interest come out to 618$, HOA 160$/month,insurance 21$/month, taxes are about 2,200$/a year. With all of this I will be paying around 1,050$. In the area that I purchased, rent goes from around 1200-1400. It is a 2 bedroom 1 bath condo with central heating and cooling. It doesn't need much work besides new paint on the walls.