Close on Rental #2 and #3 this June!

[Nick V.]

Just wanted to share! I am 25 and married! We bought our 1st rental (duplex) last year and it has been great so far. 

We have been searching for another duplex for a while, lost out on a few chances so have been pretty frustrating trying to get the next one.

Rental #2 - We close June 1, 2016 and will start renos then plan to have it rented by Sept. 1st. this property is a large SFH, we are converting into a duplex. We had to put down 20% + approx. 15k in renovations to convert it. We plan to refinance in 1 year to pay some of that back and plan to have it all paid back in 1yr. Cash flow is should be around $900/month.

Rental #2 - We close June 24, 2016. After renos, plan to have it rented by Sept. 1st maybe sooner. This is a Joint Venture deal as we had our funds tied up into #2. We purchased another duplex. 3 bedroom 1 bath unit and a 1 bed 1 bath unit. The 3 bedroom is vacant and we plan to renovate (approx 5-6k in renos) and the 1 bedroom is already rented to what appears to be a nice clean older lady who has been there fro 6 years. Total cash flow from this property will be around $750-$800/month. This will be divided as its a Joint Venture Deal. I won't be fronting any of my money but will be operating and managing the property. In return we get 50% of the equity and 50% of the monthly profit.

Also, to add to it, my wife is due with our 1st child on August 2nd! - Should be fun!

After this settles, I will need to be creative in order to get the next!