Purchased my first property!

[Gabriel H.]

I just purchased my first property ever thanks to BiggerPockets! It's a B-class duplex in Texas that needed very little work to be ready to rent. Purchased it for $194k and closed my funding on June 1 and put up ads for rent. By June 3rd we have applications for both sides at the rent I was asking with some potentially great tenants. Gross income is $2400, PITI is about $1200. After debt & 8% capex/maintenance & 8% maintenance, the cash flow comes out to a little over $800/mo. All utilities are metered completely separate and tenants are taking care of the small yard. Super excited!!

[Gabriel H.]

correction on my original post.  8% maint/capex, 8% vacancy.

Thanks all!  I financed using a conventional loan.  25% down at 4.35%.  From the time i first analyzed the property till close was a little over a month.  But i had already made several offers on several other places before i found this one.

My lender tells me he can fund me again immediately, but i'll probably hold off for another 6 months unless another great deal comes up. So my next steps would be to start over and keep looking for more deals!