First rental property under contract!

[Brian Holt]

So I got the real estate investment bug and I've been reading and researching for a while now. Finally started getting out looking at and analyzing properties a couple weeks ago and as of yesterday after 3 offers I have my first agreement! It's a duplex, not a huge cash flow deal, but I got the seller down to $64,750 on the property and it's currrently fully occupied bringing in $1150/month total. Taxes are under $1500 per year, Insurance looks like it will come in under $1,000 per year and the only landlord paid utilities are water and sewer averaging about $160 per month. Looking forward to closing and moving on to the next deal!