Sold first investment property - $40k net
Hey guys! First ever success story here.
My first property was a two unit (SFR + apartment) that I bought to rent out. I sold it for a nice profit today!
When I closed on the property I was new, I didn't run the numbers perfectly and cash flow was usually between negative $100-200 after property management fees. Good news is that I chose a 15 year mortgage, so that translated into around $1000 in equity a month.
I sold the place today, and even with all the money I put into it over a couple years there was about $40k left over!
At this point I have a few more irons in the fire, but even so it's nice to get that first deal in the record books as a win!