Buying My First Rental

[Devin Duval]

I just put in an offer on a rental that got accepted. The purchase price is $112,000 with no closing cost. There is a tenant in the property until Feb. 2022 paying $1200 a month.

Looks like I will cash flow right around $200 if my numbers are correct. $400 for mortgage, $150 taxes, $100 insurance, $120 property management fee, $100 future repairs, $100 vacancies.

Property doesn't need any repairs and is one side of a townhome in a popular area. Would you guys consider this a good first deal? Just trying to get some feedback from other investors. Thanks!

[Nathan Gesner]

It looks like a decent opportunity. I recommend putting that cash flow aside and saving up a nice reserve, then prepping for your next investment. Onward and upward!