All Forum Posts by: Johnny Paramo

@Shaun Morgan

My plan is to live in it for a year then rent out both sides and continue to invest in more properties. I believe you are right about it being a good deal and the amount of cash flow. Thank you for the advice I greatly appreciate it as I am barely starting my journey into the real estate business.

@Matt Moreland

Each side is $190 so the property as a whole would be $380 on HOA fees.

This property is older as it was built in 1952. I will shoot you a message so we can talk more about the property.

@Shaun Morgan

These are rough numbers but taxes are $2298 and insurance is $1500 per year. I am planning to put the lowest down payment possible so I am verifying with the lenders. One is saying the minimum is 15% down payment.

On the rental calculator it is saying my expenses per month are around $1300 if I plugged in everything correctly.

I am looking to buy my first rental property in west Texas. I have come across a duplex that is going for $160,000. The appx rent per unit per month is $925 for 676 sq ft and the other is $900 for 664 sq ft. I have already been approved by 3 different loan companies with the interest rate varying from 2.5% to 3.0%. If I do get this property I plan to live on one side and rent the other. Currently there is a Rene at renting one side of the property. This property also has an HOA fee of $380 for both sides. Just want to see what options are out there and any help and feed back that I can get would be helpful in my first investment property.