#17 rental was purchased today

[George P.]

just closed on #17. here are the details..

~1,085 sq. ft
-64k (asking was 69.9)
-2 beds, 1.5 bath (converted from 3 beds and going back to 3 beds)
- 1 car garage, car port and a shed in the back

major work - roof, skylight, paint cabinets, countertop, kitchen floors, bath update, put up a wall for a 3rd bedroom. maybe refinish the hardwood - budget? whatever it takes to make it nice

taxes - around 2,600-2,800, who knows what they will jump to
insurance - around $625 per year
area - C+ to B-

expected rent - $1,100-$1,150

here is a picture of the outside

[George P.]

Originally posted by @Gautam Venkatesan:

@George P. congrats! Can you share how you are financing your properties - all cash, portfolio loan, OPM ??

 the last few have been from a credit line. we mortgaged a bunch earlier this year and have access to a credit line. it's definitely gotten easier to purchase the more you have. we can also do conventional mortgage as well since the bundle is under a commercial loan, thus does not acount toward the "10 max" rule.