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Updated about 7 years ago on . Most recent reply
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Finally purchased my first multifamily investment property at 21
Good Evening Bigger Pockets,
After 3 years of hard work I've been able to get my first multi family Property in west new York, NJ. I closed the deal in the end May 2016 and I'm now on my second mortgage payment. I was able to get my property with an FHA loan. The property is a duplex, 3 bed over 3 bed and a finished basement with 4 bedrooms and 2 bathrooms. I'm currently renting both 1st and second floors and staying in the basement. The rental income falls about $200 short from covering my monthly mortgage payments. (I cant complain though I'm paying $200 rent basically ) Im just giving everyone an update and would appreciate any feedback on what to expect as a new home owner and over all any advice
thank you!
Most Popular Reply
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Congratulations Aristone! Sounds like a fantastic house hack. $200 a month is great, well done.
Care to share the financial details? Purchase price, rents you are getting?
4 bedrooms in the basement, sounds like a sizable basement unit.
Good Luck with your future endeavors!