One Deal Done 9 More to go ...

[Michael Zuber]

Well I just closed on the first rental property of 2010 I know it is still late 2009 but I already closed out by 2009 plan). As I posted in another note my goal is 10 for 2010.

As deals go it was a true steal. It fell in and out of escrow 3 times because other buyers couldn't close. As it turned out each buyer tried to use FHA lending (I have no idea why the asset manager would accept an FHA the second let alone a third time). But it was good for me as I offered a lot less than they wanted.

It was a Duplex (actually 2 seperate houses/yards on a R2 lot)

Both house were 3/2 + a den.

I purchased them for 60K, they need about 10K in work and I expect to collect 2K a month (1K each).

If I could find 9 more deals like this one I will be VERY HAPPY ...

2010 should offer some outstanding deals ...

Good Investing ...