Updated over 10 years ago on . Most recent reply
Closing on units 7 and 8 this weeks
Just thought I'd share. I'm closing on my next property which is a 2-unit this week. This will bring my total number of units to 8. I started investing in May of 2013.
When I started to invest my personal goals were retire from my 9-5 before 40 (I'm currently 30 years old) and have 100 units.
I'd say I'm on my way, but will need to start to increase my purchases in order to meet my goal over the next 10 years or look at larger multi families. I do also invest in the stock market, 401k etc so I could focus more. Income in RE to help propel me to my goal.
Here are the numbers for the most recent deal:
Purchase price $64,000
Monthly gross rent: $1,350
Down payment/total closing costs 33k
Mortgage/taxes/insurance $441
Maintenance $100
Immediate rehab $0 this is a turn key
coc return 29%