All Forum Posts by: Joshua Pillow

I close June 20th, it is a buy and hold and my first deal. It's a 3 bd, 2.5 bath, 1600 sq ft, 2 car garage with a shed, jacuzzi, built in 1989 and has nice backyard covered porch. It's in a high demand rental area within a fantastic school district. Buying price is $170,000 an I'm putting 20% down ($34,000). Closing costs are a little over $9,000 so overall I would be putting down a little over $43,000. It appraised at $172,000 and the inspector said it was taken care of very well. The roof was redone in 2009 and the seller have agreed to leave all appliances except the washer and dryer. Taxes/Insurance/HOA together are $7,500/year. Rental comparables in the neighborhood are about $1,900/month. I'm having second thoughts because the cash at closing is almost all of my savings. What do you the experienced people on Bigger Pockets think I should do? Big thanks in advance.