1st Investment Property - Mississippi

[Ulisses B.]

Investment Info:

Single-family residence buy & hold investment in Hattiesburg.

Purchase price: $75,000
Cash invested: $14,000
Sale price: $80,000

First rental property ever. Ended up putting up 587 feet of fence to appeal to pet owners. Updated bathroom floor and a few kitchen updates. 3bedroom / 1 bath. Made the mistake of paying for the water which ended up eating into my profits. Mortgage: $569 a month. Rent: $1,025 a month. Average water bill: $90

Cash Flow: $366