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Updated over 5 years ago,

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3
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0
Votes
Greyson Holden
  • Rental Property Investor
  • Wake Forest, NC
0
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3
Posts

Buying my first rental property

Greyson Holden
  • Rental Property Investor
  • Wake Forest, NC
Posted

Hey everyone,

I'm just getting started in real estate investing but have loved every second of learning the process.

I found a nice duplex in an upcoming area that I'm about to move too. One side has a long term tenant and the other side has a month to month tenant. Rent is 665 a month for both sides.

When I plug all the numbers in to biggerpockets calculator, everything checks out great. 650$ cash flow per month and a 20% ROI.

I can't house hack because before I started getting into real estate investing I already signed a lease with another rental that I'll be stuck in for a year.

My question is, since I just started out I don't really have a lot saved up and I've never had a credit card(I just ordered one to start building my credit), do I just sit here and let this deal go to waste or is there something I can do to get the money? Maybe hard money lenders?

Let me know whatchu guys think or if you've ever been in this situation.

Thanks!