Under Contract on my first investment property

[Tim Burdette]

Been lurking on the board for a while.  I'm under contract on my first investment property in Richmond, KY.  It's an older house that has been turned into a duplex and is currently rented for $1000/month.  Purchase price was $75k and house needs minimal work.  Current tenants are not under a lease which I plan to make them sign when I take over or move out.  Local bank is having me put 25% down since the property is multi-family and I'm getting an interest rate at 4.25%.  Cash flow numbers look good compared to other properties I've run but I'd love to hear what everyone thinks.