Newbie, just closed on first property in Atlanta!

[Rob Gleason]

Hello all.  I've been contemplating, calculating and questioning the purchase of rental properties for years. Over those years I've watched a number of friends and family members enjoy varied levels of success, from building profitable multi-property portfolios, to declaring personal bankruptcy after 3 years of "investing".  Scary stuff that was keeping me on the sidelines.

      Then I came across BP's website and started reading and watching.  It gave me the confidence to make my first purchase 2 weeks ago: a duplex, all cash, both sides rented@500 each, cash flow ~$600/mo.  I'm happy with the purchase because after seeing all the failures around me, my thinking was just to get a deal that didn't fail.  But now I'm thinking I should have done better because I'm getting just over 10% ROE.  Thoughts?

LOVE THIS SITE!

[Alan Majors]

Welcome from another newbie.  Let's see, you are cash flow positive with stable renters on your very first deal.  10% may not be huge, but you are learning and building confidence.  Survivors get to go on and play another round.  I'd say learn the plus side and the negative side of this and plan for your next deal.