and property # 3 down...

[Luca Gobbini]

Hey everybody, it is official, today I closed on my 3rd SF unit. Traditional financing, 20% down, 4.25% over 30 year. Will rent for about 1% of the purchase price, the appraisal came back at 15% over the purchase price (and I thought it was quite conservative). This is my first turn  key, will work on it for a couple of days and have it ready for rent in a weekend. My plan is to advertise on facebook and craigslist + sign in the yard, which for the area is usually sufficient and brings plenty of applicants.

Now, I'm planning on stabilizing the business for a few months, let my credit score absorb the hit, set aside a few more $ and start looking at the next project.