My 1st Venture as a Newbie
Alright guys, here's my 1st step to Bigger Pocketing. I'm in the process of purchasing a townhouse that costs $155k. It's a 3br/2.5bath in a grade A neighborhood. I'll stay in the master and rent the other 2 rooms out.
Costs:
155k (working on lowering w/ closing costs included)
HOA: 265 month (includes external maintenance, tennis and basketball courts, and pool
Rent: 550 (11x13) and 500 (11x11) according to comps + utilities
Property taxes: 1500/yr
I have 110k in private student debt, but after putting a down of 17k - I won't have to pay for rent and my commute to work is greatly reduced. This is also a very desirable area.