was my first deal back in 2011 worth it?
Hey all
FIRST POST! listened to many podcasts, such great info, one bad thing is that I found out about the site after I bought my first REI.
SO was my first deal worth it, hopefully I am not leaving any major details out, I would like some feedback on my thought process and what I should be looking at more when evaluating a deal as I will be starting to look at the next opportunity shortly
3 unit multi family - buffalo, ny - 2 3 bd I rent out and I live in attic 1 bedroom loft
215k with 10 seller concessions for closing costs, did a fha first time home buyer 3.5 % down, with everything my pB was 209k.
PITI; $1,730
rents on first 2 units; $2,000
expenses - user fee - $400
water sewer $200 quarterly
put in around $15k on my unit since I converted a studio into loft
not really cash flowing at this point but I figure once I move out I could get around 700 for my unit. I am looking to buy and hold and take out equity for next property
HOW BAD DID I DO!!!!????