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Updated over 6 years ago,
Advise on my first Condo purchased
Hello Everyone,
I Just wanted to get some advise on a recent move that I did to see if it was a good move or not, and if it was not a good move, can you give please some advise for the future.
In June, I bought my first property as my primary residence in Beverly MA, a few weeks after I bought my unit, I got a job opportunity to as a tennis coach, close to the area and in the job they included free housing. so I don't have to pay anything for rent, so I decided to rent my unit, but I am renting it in $1800 a month, but all my expenses are $1910, so that means that I am $110 Negative cash flow a month. What I see good from that, is that I don't have to pay anything for rent, the tenant is paying months of my mortgage payment and I am being able to save more money now to buy some more properties that could help me get some cash flow. I also started a tennis academy by myself, so I am planning to offset part of the taxes from the interest that I am paying for the loan.
I have a lot of free time in my new job and I want to get more into the real estate business, so any recommendations on what steps I should take now to get more involved in it. I am thinking of start using roofstock.com to buy a rental property. does anyone have some comments about that.
Thank you for the construction feedback,
Julian