All Forum Posts by: Mark Howard

@Nathan Emmert Yes sir definitely an equity play. I do have W-2 income and can swing it just fine. Im 22 and in it for the long haul. Hoping maybe I can snowball my way Dave Ramsey style out of debt over next two years and have more income to pay off early or invest in a better deal. 

after repair value, right? I know for my taxes paid it was estimated at a value of $55,000 so somewhere around there. it is a lower income neighborhood. I'm not really sure about the expected vacancy rate, hopefully low. same with if the value will rise or not. probably going to spend $1,000 this year in 2015 on maintenance. 

I understand my cash flow is practically non existent at the moment, but I figure with a renter paying the mortgage for me and a little extra to cover overhead like taxes and insurance. even if im about breaking even. it will be paid off in the next 5 and half years...

No they don't. taxes were 1400 for 2014. Currently do not have insurance. I should probably get some...

I bought my first rental property 6 months ago. Its a rent to own deal. I have contract for deed. anyways. I bought the property for $36,000. Put $3,000 down. 0% interest. Spent $7,500 in repairs. Payments are 450 a month. property is currently renting for $650 a month.