#21 rental was purchased today

[George P.]

I just finished #19 and its on the MLS for $1,150. I started #20 and today closed on #21.

my goal is 35 at the moment. not sure if i can get there, but will sure try my hardest.

this one is close to another few i have. it was a foreclosure, off the MLS. it is a 3 bed but at one point it was converted to a 2 bed and lots of people passed on it. just by putting a wall up, i can increase the value by 10k min. people are so weird, but that works for me!!

numbers.... 

3 bed, 2 bath, 949 sq. ft

asking was $70k

Purchased for 64,212

rehab - who knows... around 8k? (flooring, bath tiles on the floor, leaving the tub area as is, another wall, demo, some electrical, etc, etc.)

taxes - who knows... around $2500 +/- a few hundred

rent - ~$1,100/month

purchased with the line of credit (interest only at 5%) and they we will combine the last 3 and put them in a separate loan. 

it's on a through street, not a main road. that might deter some people away.

it's getting harder and harder to stay focused (if you can call it that) at work. 

these are zillow pics, not mine. i'd never take such terrible pics.

front

bath, paint whatver wood pieces i can keep

the garage is super strange, has a loft inside.

will keep the cabs, but take off the ugly backsplash and new counter. also new dishwasher

the loft in the garaage. it has 220V inside too

basement

back of the house

[Jeff Rabinowitz]

@Jonathan Makovsky, I disagree with your advice to newbies. Most would be well served to take @George P.'s lead. If you take too much time to analyze your investment it will be gone by the time you make your offer. Ready, fire, aim will usually lead to better results than ready, aim, fire.