My First Rental Property

[Anthony Michael Hamza]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $340,000
Cash invested: $110,000

This is my first rental property. Began renting the property out in June 2024 for $4,500 per month. With a 2.25% IR, total monthly expenses are at about $2,000 currently. No HOA, single family home. Put A little over $100,000 into renovations, mainly solidifying the property against hurricanes with impact windows & doors and a metal roof, but also some cosmetic stuff like floors, lighting and paint, etc. I am still new to a lot of the REI terminology and calculations, so I'm just using the amount spent on renovations as my "cash invested." I was a Realtor when I purchased it in 2019 and I used my commission towards the closing costs and I am a U.S. Army Veteran so I was fortunate not to have a lot of the typical expenses or a down payment. After living in the property form 2019 to 2024, my wife and I moved up to Maryland for a new job. We purchased our second property in August 2024, a townhouse this time, in Odenton, MD. With the interest rates and market prices, I am not sure this will be as great with returns. My goal is similar to the BRRRR method, and I want to hold on to rentals and create cashflow. My next property will hopefully be a multifamily. Hoping to learn a lot from this community.

[Jordan Ray]

Quote from @Anthony Michael Hamza:

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $340,000
Cash invested: $110,000

This is my first rental property. Began renting the property out in June 2024 for $4,500 per month. With a 2.25% IR, total monthly expenses are at about $2,000 currently. No HOA, single family home. Put A little over $100,000 into renovations, mainly solidifying the property against hurricanes with impact windows & doors and a metal roof, but also some cosmetic stuff like floors, lighting and paint, etc. I am still new to a lot of the REI terminology and calculations, so I'm just using the amount spent on renovations as my "cash invested." I was a Realtor when I purchased it in 2019 and I used my commission towards the closing costs and I am a U.S. Army Veteran so I was fortunate not to have a lot of the typical expenses or a down payment. After living in the property form 2019 to 2024, my wife and I moved up to Maryland for a new job. We purchased our second property in August 2024, a townhouse this time, in Odenton, MD. With the interest rates and market prices, I am not sure this will be as great with returns. My goal is similar to the BRRRR method, and I want to hold on to rentals and create cashflow. My next property will hopefully be a multifamily. Hoping to learn a lot from this community.

Hi Anthony,

Great job on your first rental property! Your proactive approach—especially the hurricane-proof renovations—really positions you well in terms of asset protection and long-term value. It’s impressive that you managed to keep your monthly expenses relatively low while securing a strong rent of $4,500.

Your background as a Realtor and the benefits you leveraged as a veteran clearly gave you an edge. As you move into your townhouse in Odenton and eventually aim for multifamily properties, you might want to start refining your metrics (like cash-on-cash return and cap rate) to compare performance across different property types.

Looking forward to seeing how your portfolio evolves. Welcome to the community, and best of luck with your next ventures! Let me know if you ever decide to invest on Memphis TN at all!