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Updated about 5 years ago,
First Rental Property
Hi BP family, my name is Jordan and I am 20 years old. I have been studying real estate in many different avenues for a little over a year now. After reading and listening to all the information I have found on the site, I have been able to stumble my way through my first wholesale deal and make 1000 dollars! Now I have another deal I am pursuing and have been an apprentice to a mentor for around a month. She has over 100 properties and wants me to help her sell them while I learn from her experience. The first property that she has is a Duplex property in Jacksonville, Arkansas. She uses it for Airbnb and currently has a tenant in the property until April of 2020. There is also another tenant coming December 22nd of this month until January 4th and they will be paying 825 dollars. She is selling this duplex for 126k and that is what it appraised for. I really want to start getting my own properties and think this would be a great starting point. My question is Would any of you guys get this property? I am looking into loans and mortgage rates because after these tenants leave I want to have more come in, but I know that I wont always have 100% booking so If necessary I want to be able to make the payments. Is there anything else I should consider before buying a property? I would really like to get it but want to make sure I make sound decisions and if I do make a mistake, I wont be able to make payments.