No money down...cash back at closing!
I feel like a Carlton Sheets infomercial. I closed on #5 today and walked away with cash. I bought a single family for $35k in Hammond Indiana with a 5 year tenant. Rent is $650 per month. The house has new roof, windows, and siding. Pretty excited am in negotiations for # 6 now.
Originally posted by @Andrew Huffmab:
I feel like a Carlton Sheets infomercial. I closed on #5 today and walked away with cash. I bought a single family for $35k in Hammond Indiana with a 5 year tenant. Rent is $650 per month. The house has new roof, windows, and siding. Pretty excited - I am in negotiations for # 6 now.
That's great news! It's always nice to close with tenants in place so you can start cash flowing from day 1. Keep us posted on #6!
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That sounds terrific. How did you manage the financing? Good luck for #6
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I have line of credit on another house. My local bank does 15 year 5.15% fixed.
Andrew Huffmab what bank do you use locally? I'm looking to cash out refi my house in Hammond and I'm curious to see what banks investors are working with locally? Thanks!
@Andrew Huffmab I would be interested to hear which bank in Indiana is working with you as well...
I use Demotte State Bank. there are several around here.
Nice job @Andrew Huffmab! Congrats.
@Andrew Huffmab How long do you have to wait before you can do a cash out refi? That’s so fascinating to acquire a property with zero cash down while still having positive cash flow!! Congrats!