Just Bought 4 properties

[Kyle Alfriend]

This is an amazing site. A lot of information here. Before seeing this site, I bought four properties. I would like your feed back. From what I have read, I suspect most of you will think these poor purchases, but I would like your honest comments.

All 4 are in a great suburb, great schools, great parkes, etc.

They were three short sales and one bank sale. SF homes.

All were in strong stable neighborhoods with homes valued around today $250,000. Each one had a market value around $230k-$240k (good condition, slightly smaller that the other homes in the neighborhood). My purchase prices were $185,000 - $201,000

I have very minor repairs to get them ready to rent (under $1,000 -$2,000 each).

The first I had rented to occupy the day after closing, at $1795.
Two others took a month to rent at $1695.
The fourth I dropped to $1495 to rent after three months.

Loan: 30 year fixed 80% LTV, 6.125%

Goal is to just hold them for 5-10 years, and then sell in an improved market.

Historic apprciation is about 3%. Todays prices are depressed about 7%-10%.

Homes are in central Ohio.

I would appreciate your comments.