Updated about 13 years ago on . Most recent reply
New member! Super nervous, need some help!
HI BP,
I am new to posting on BP. I have been doing a TON of reading here and it has been nothing but a great source of information and inspiration!
After several months of learning, I am finally ready to make my first investment but I am shaking in my boots.
I have been prequalified for financing conventional 80% ltv 30 year fixed, picked out my target area and did my due diligence. Found a SFH with a long term tenant in place, willing to stay. Property is in a busy college town, rents for 1k a month,(comps rent for about $100.00 more) tenant pays all utilities and takes care of lawn. Since the property is within city limits, town takes care of waste. Taxes are cheap .. a shade under 1300. Price of the home is about 113k.
Are there any questions I should be asking? Is this a good deal? Any help would be much appreciated! Thanks in advance!
Dan