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Updated over 6 years ago on . Most recent reply

User Stats

9
Posts
40
Votes
Carson Kesner
  • Flipper/Rehabber
  • Youngstown Ohio
40
Votes |
9
Posts

Rental property help

Carson Kesner
  • Flipper/Rehabber
  • Youngstown Ohio
Posted
Recently purchased a $70k 1100sf SFH as a rental property, planned on renting it out @ 950/month with a $530 mortgage. Refinance property#1 in a few years after improvements and save Income to purchase another SFH and repeat until I can make a down payment on a commercial property. Am I being naive or ignorant in assuming I can make money within the next 6 years? Or even make money to create a down25%down payment on a commercial property with 200k? I run a landscaping company and was looking for a passive income type deal.. any input welcome

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