Turning my primary Residence into my first rental.

[Brian Nangle]

Well i don't have much experience in the real estate world but as of January 1st of 2016 my previous home in Alamogordo NM is rented out on a 3 year lease and is cash flow positive. I bought the property in 2013 as a new build with no money down through the VA loan process and am happy to be renting it and be positive cash flow even if it is only 200 a month positive after property management. I figure it will give me a nice soft intro to the rental business until i buy my first multi family home next year in Milwaukee WI.

Amount financed = 253,000

Mortgage/Property Taxes/Insurance = 1300/month

3 year lease at 1600/month

Property management = 100/month

My plan is to be exclusively in multi-family so my plan for this property is to unload it at the end of this first lease in 3 years and use any money i make to roll into my investment capital for new properties in the Milwaukee area.