How I make $1875/mo. cash flow on a rental I have $0 in.

[Andrey Y.]

In 2011 I bought my first ever property, in Honolulu. I used a VA loan and put about 12-15% down (didn't have to). Initially, I lived in the 1BR and then I realized that the separate entrance small bedroom and bath wasn't really used. I began to rent this space as my first ever foray into being a landlord. A nice $750 per month.

I believe my first loan was in the high 3s %. Fast forward five years or so, I performed a couple cash out refi's which pulled $60K in cash out of the property. It was at this time that I also moved out of the 1BR.