Info/advice on my first deal. Looking to scale.

[Andrew Kilgore]

Hello all! I am a 23 year old male, and I am looking for advice or info on my first deal. I am under contract to buy a 2 bed 1 bath home that is move in ready. I am purchasing for $54,900, and the house appraised for $65,000. I obtained a 15 year loan that is amortized over 30. The house is in a quiet neighborhood in north Alabama (around the Oxford area). I am looking for ways to leverage this property to buy new ones, or ways to grow my real estate business. Any advice would be appreciated! 

[Nathan Gesner]

Quote from @Andrew Kilgore:

Hello all! I am a 23 year old male, and I am looking for advice or info on my first deal. I am under contract to buy a 2 bed 1 bath home that is move in ready. I am purchasing for $54,900, and the house appraised for $65,000. I obtained a 15 year loan that is amortized over 30. The house is in a quiet neighborhood in north Alabama (around the Oxford area). I am looking for ways to leverage this property to buy new ones, or ways to grow my real estate business. Any advice would be appreciated! 

 Hustle, save money, learn about house hacking. Your next purchase could be a fourplex with 5% down. Live in one unit, rent the other three. Keep hustling. A year later, rinse and repeat until you get tired or want to move into your own home.