Purchased my first property!

[Gabriel H.]

I just purchased my first property ever thanks to BiggerPockets! It's a B-class duplex in Texas that needed very little work to be ready to rent. Purchased it for $194k and closed my funding on June 1 and put up ads for rent. By June 3rd we have applications for both sides at the rent I was asking with some potentially great tenants. Gross income is $2400, PITI is about $1200. After debt & 8% capex/maintenance & 8% maintenance, the cash flow comes out to a little over $800/mo. All utilities are metered completely separate and tenants are taking care of the small yard. Super excited!!

[Allen Fletcher]

@Gabriel H. Congrats! I hope it all goes well. How did you finance the deal? What is your next step?

Regards,

Allen Fletcher