Newbie, My first deal

[Thomas M.]

First off wanna say this is a great forum, been learning alot over the 6 months i been reading posts.

Just got my fist property rented through Section 8 for $600 a month. Here's the specifics, wanna know if I'm off to a good start, and seeking advice.

Doublewide mobile home
Land- 2 lots in the city limits (good niehborhood)
Paid Cash- $13000
Rehab+ Heatpump/ac+utilities- $3000
Total invested = $16000

My plan is to rent it out till i get all my money back, then if I do not like landlording flip it, if i do hold it.

[Will Barnard]

That is a fanbtastic deal, do as many of those as you can and do not discount lines of credit. With those spreads, you can afford leverage,even at higher rates. If you use it on the next one like this, you would still have cash flow without using your own money and that my friend is an infinite return.