Closing my First Buy and Hold Deal
Hello Everyone,
My name is Hudson, and I decided to buy a house in my neighborhood as an investment property. I am scheduled to close in three weeks, and plan to promptly have new floors installed, a fresh interior paint job, and put it on the renters market. This is my first investment property, and I'm very happy to have found BiggerPockets.com. I think it will be a major contributor to my decision making.
I am closing on a 15 year conventional loan with 25% down, and hope to pay it off in 10 years. I'm a little nervous about finding good tenants, and hoping the expenses are not going to be tremendous, as I'll have a very small margin for the next 10 years.
I'm happy to join the community and look forward to learning a lot, and sharing valuable experiences.
Regards,
Hudson