About to close on our second investment property

[Armando Carrera]

Hi everyone, 

My wife and I are two weeks away from closing on our second investment property in the Phoenix area. It may or may not be the best time to purchase due to rates and high prices. But since we both have decent W2 jobs we decided to take the plunge. We are in it for the long game, so we felt it was right for us. 

Putting 20% down really puts a dent on our liquid money but better (we think) than it just losing value in the bank. 

Just for reference, our interest rate is 7.2% with an all-in mortgage (PITI) of $2,040. We will be doing a long-term rental for $2,400/month. We're extremely excited to grow our portfolio!

Thanks to everyone on these forums for giving us courage and insight.