I just closed on my 9th rental

[Mark Ferguson]

I am getting closer to my goals! I closed on number 9 today. It is a 4/2 ranch with a 2 car attached garage. I bought it for $133,000 which is more than I have bought any of my other rentals for, but the market and rents keep improving. This home needs very little work; only a but of paint. Has new windows, newer kitchen, newer hardwood and baths.

I put 20% down with a 5/1 ARM at 4.625% and my payment with taxes and insurance is $642. The home should rent for around $1,300, maybe $1,400. There were multiple offers on the first day of course. I think being a Realtor and knowing the listing agent helped me out on this one. Asking price was $134,900.

It was purchased off of MLS just like almost all of my deals. For those saying you can't buy off MLS, I have 6 fix and flips going, 5 of which were from MLS and one from the trustee sale.