closing on first property today

[Bobby Gupta]

I am in a market where literally properties are sold within few days and are bringing over the market value.

found this 3 bd 2 car 2 and half bath on sale by owner which was listed like with in an hour. called the person and saw the house in 30 minutes and placed offer next day.

List price $99k  sale price 91k appraisal value 108k

taxes 1.3k yearly

rental incomes monthly 1150. I am self managing it.

$735  includes taxes and insurance ( 15 year mortgage)

$415 cash flow every month

[Rivy S.]

Looks like you got a good deal!  Just don't forget to account for vacancy, maintenance expenses, cap-ex, etc...