It's a go

Just got the call from the agent, they are going to reshingle the roof of the duplex on Tuesday, and we close on Thursday. (Halloween)
They may have been able to get it covered by insurance, because of possible hail damage. But after the inspection, this was the one thing I wanted.

Obviously there is more that should be done, but I believe I can deal with it.

I do need to deal with a toilet and sink leak. I may replace the toilet with a low flow one, as long as it actually functions that is. One of the bathroom drawers does need to be fixed. I may be able to do that myself.

Unfortunately just buying the property I am not aware of how much of the damage is a result of the tenants. Although the furnaces are dirty, which falls on the management company. I will get it cleaned and serviced, but if my HVAC guy tells me I should just replace them now, I will. I plan on having it done early next year anyway.

But now that the negotiation is over, and I am just days away from signing, reality is setting in, but other then a few nerves, I am surprisingly calm.

As I post here, it will become apparent whether I made a good deal, a bad one, or something in between. I know I probably could have done a better deal then I did, but being this is my first deal, I was most interested in getting that cash flow.

As I invest further, I will keep making sure my deals do cash flow, but equity will become more and more important in the deals. Eventually I will be in deals that may not cash flow, but that will always be short term. (I am defining short term as 12 months.) Some reasons would be that apartments are unrentable, the place needs massive repair, or bad tenants need to be removed and replaced with good ones, or even all the above.

But for now they must cash flow from day 1, and this one does.