First Rental/Off market deal

[Zane Britton]

After 6 months of educating myself and searching for a deal, I have my first rental under contract. It’s a duplex, 2bd 1 bath in each unit. Price: $62,500, I’ll be putting 20% down on a 20 year mortgage. It should cash flow around $300/month after mortgage and expenses are paid. Current rents are $550 but average rent in that area for 2bd 1bath are between $750-$850, so there is potential for more cash flow.