AMA: Newbie just bought my first investment duplex property

[Dhwani Shah]

Hey guys. I started on my real estate investment journey exactly a year ago today by reading "Rich Dad Poor Dad" and listening to biggerpocket podcast every day while I worked out. I just closed on my first duplex investment property about 2 weeks ago and I couldn't be more excited! I had no agent and the seller had no agent, so I got a huuuge knowledge dump and faced many challenges along the way, but I learned so much. We had this property listed on Zillow for the first unit to be rented for only a week and we already had a tenant move it today with a year lease. The second unit we're renovating right now and should be ready to rent by end of the month. 

Some numbers: 

- Bought it for 145k

- 2 units (1bd/1bt and 2bd/1bt)

- Mortgage, escrow, and everything totals out to be ~$750/month for the fixed monthly expense

- The first unit is rented for $1150/month, tenant pays all utilities...aka, all our mortgage is paid already by the first unit and we still have some left over as cash flow ;)

- The second unit is being renovated (about 15k we've budgeted) and we're looking to have that rented for $1500/month easily

- With 5% set aside each month for repair/maint and another 5% for capex, we're like almost 20+% CoC

A lot of things have made this deal possible, but biggerpockets and the biggerpockets community was definitely a big one as it kept me going and gave me motivation/knowledge. Now I want to play my part and give back. I'm here and I'll answer any questions that you guys have for me. Ask away :)