1st deal in San Antonio, TX
Alright guys, I completed my first deal. The numbers looked a lot better when I started but I ended up with a cash ROI of 8% and a total ROI of 11%. Renter in the home for $1600/month and mortgage payment of $950 (including taxes and insurance). Im saving about $300/month for repairs/vacancy/capex and Im cash flowing about $350. I went the way of conventional financing with 20% down and I sef-funded my repair cost. Im kinda bummed out because I know most investors are looking for over 20% cash ROI and over 30% total ROI. I think the property is solid in a good part of town and a great rental area. Should I view this as a failed first investment?