New Investor HELP?? I see ok deals? Do I need a great one?

4 Replies

I have a pre-approval letter, down payment, and my eye on a triplex.  This will be my 1st investment property and I want to know some things to watch out for as I jump in to the world of real-estate.  

Great is the enemy of good. I've never bought what I would consider a "grand slam" deal and I'd say I'm a pretty successful investor- quit my "real" job a while back and do real estate stuff full time. I know lots of people waiting for a great deal for their first one. They've been waiting for a long time. Buy okay deals and wait- you'll be happy you did. 

Good luck!

@Nicholas L. Sure $415,000 triplex with a potential rental value of $1100 a unit. place appears to be in good order. Currently has renter unknown as to how much their rental payment is currently. Taxes 1% Insurance around 120 monthly.

25% DP

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