Finally purchased my first property!

[Daniel Acosta]

Hey guys! So I've been lurking the forums for a couple years now as well as listening to the podcasts since 2015. Two years later now in 2017, I closed on my first property on Friday, January 13. It's an awesome feeling to finally have started my real estate journey and only looking forward to what my future holds. 

So a little info on the property. It is a 3bd 2.5ba townhome that I purchased for $77,000. The average rent for the area is ~$800/month. 

Right now I am going to "house hack" and have my roommates move in with me and charge them $300 each. My mortgage payment is $410/month so my utilities will get paid as well.

I purchased the property on a REC @5% so that's why my payments are really low. I have 5 years to refinance but I'm hoping I can get most of it paid off by then. I plan to do this with my other sources of income as I also flip cars which nets me about ~$1000/month and I also work 2 jobs. I have also started a Youtube channel which I am hoping will turn out successful to have a little extra money each month wether it be $10 or $1000/month.

I'm hoping to have $40-50k paid off then pull out the equity when refinanced which I'm not really sure what I want to do with the money right now, but I'm sure I will know at that point in time. I plan to either purchase another buy and hold or just fix and flip a home.

Anyways, I know this was a long post, but I am just really excited! I'm sure you guys understand lol!