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Updated about 9 years ago on . Most recent reply

Vy Mai's profile image
Vy Mai's profile image
Vy Mai
  • from Andover, Massachusetts
  • Member since Sep 15, 2015
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Vy Mai's profile image
Vy Mai's profile image
Vy Mai
  • from Andover, Massachusetts
  • Member since Sep 15, 2015
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Vy Mai
  • Andover, MA
13
Votes |
103
Posts
Real Estate Deal Analysis & Advice

Got our 1st rental single house

Vy Mai
  • Andover, MA
Posted

We just closed on a deal 2 days ago. Still unbelievable. We got the down payment through home equity loan from our primary residence. Our income will be only $89.... but I still consider it a success. We are renting it to our seller and the rental income is a little less. Our projected income will be $889. However this number doesn't include vacancy or fixing up expenses.  Still I am excited!! What's next is in my mind :)

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Linval T.'s profile image
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Linval T.
  • Investor
  • from Bay Shore, New York
  • Member since Dec 28, 2014
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Linval T.'s profile image
Linval T.'s profile image
Linval T.
  • Investor
  • from Bay Shore, New York
  • Member since Dec 28, 2014
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Linval T.
  • Investor
  • Bay Shore, NY
688
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Linval T.
  • Investor
  • Bay Shore, NY
Replied

@Vy Mai

Congratulations on your accomplishment and welcome to the world of landlording.

I added a guide below for reference.

https://www.fanniemae.com/content/tool/landlord-gu...

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