First Offer

[Larry Geedey]

Hello,

I'm completely new to posting on BP but was hoping for some feedback on potentially purchasing my first investment. I have been looking at properties for months and finally feel that I am ready to go in. The numbers look like:

One time capital fee of $1,152

Asking Price - $159,000

Property Taxes - $3,000 annual

HOA - $96 monthly

PMI- $130 monthly (estimating)

Homeowners Insurance- $60

I have no experience investing in properties but am very excited to start. If I am not accounting for anything or you see any flaws, any feedback would be great. I have been approved for a FHA loan so I will be occupying this property for awhile but my job potentially could take me anywhere so I do want to consider the rents and covering my expenses. Rents in the area go for around $1,400 from what I have gathered.