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Updated over 6 years ago,

Account Closed
3
Votes |
27
Posts

Central A/C or Window Units

Account Closed
Posted

Hey everyone,

My name is Joe, I'm 24 years old, was in the military for 5 years, and with the money I saved up I bought my first house in Pittsburgh, Pennsylvania. It was the third house I looked at, but between myself and my agent we were certain it was a good deal and turned out to be. 

I purchased it for $90k with a 30 year loan to maximize cash flow. The mortgage will be $640 / month and rent will be $550 / room.  I will be living in one room and be renting out the other 3 bedrooms.  I close on July 10, and plan on having my roommates (friends) move in August first.  There are no window units so I plan on spending $4k on central A/C, $300 on a new oven (broken), and will most likely be painting all of the bedrooms.  The house is in pretty good shape, but I just have no idea where to start adding value to it.  I'm a full time student making $3300 / month through the GI Bill and would like to start saving for my next investment property, but also start improving the house as I am living in it.  

I am looking for good recommendations of books or advice for a systematic approach on how to handle my first house. I am more than likely going to be going the BRRR route.

Thanks guys, hopefully this wasn't too bad for my first post.

I will be asking for advice, being my first real estate deal, as I have mixed emotions hoping everything will be okay. I honestly don't really know where to begin, but I will begin asking a couple questions.

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