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Updated almost 4 years ago, 02/05/2021

User Stats

4
Posts
1
Votes
Johnny Paramo
  • New to Real Estate
  • Midland, TX
1
Votes |
4
Posts

First time investing tips and help!!

Johnny Paramo
  • New to Real Estate
  • Midland, TX
Posted

I am looking to buy my first rental property in west Texas. I have come across a duplex that is going for $160,000. The appx rent per unit per month is $925 for 676 sq ft and the other is $900 for 664 sq ft. I have already been approved by 3 different loan companies with the interest rate varying from 2.5% to 3.0%. If I do get this property I plan to live on one side and rent the other. Currently there is a Rene at renting one side of the property. This property also has an HOA fee of $380 for both sides. Just want to see what options are out there and any help and feed back that I can get would be helpful in my first investment property.

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