Analyzing my deal 3 months after on 4 unit.

[Mark Burlison]

Yes, I was very green....first purchase. Made some mistakes that won’t happen again! But - we closed and are past the jitters. Immediately, after sale one tenant texted me they had no rent for February! Also they had no deposit at close(which I was aware of). After a discussion with them, I gave them 2 weeks and they came up with the rent WITH late penalty. Next month right on time and gave me a extra 50.00 towards there deposit! Price of my unit was 260k, rent receipts 3185.00 (all under rent) so I’m above the 1 percent rule. 75k down payment, generating 1100.00 a month income(including a 100.00 a month in laundry)16.5 per cent cash on cash return. Yes, I will eat some taxes pulling money out my 401k. My retirement plan is to generate streams of income off of rentals, annuities and my SS...totally skipping the stock market. So far I think I’m over jitters and ready to look for a fresh deal.