First deal...I can taste it

[Robert Shelton]

I haven't posted much more than a brief introduction and a few comments here and there, but this was because I wasn't really sure what to post and since I'm new, I didn't have much knowledge to share. That being said, I have been researching for most of the past 6 months on how I want to invest. I was recommended a realtor through a family member who has been great to work with so far and...Well, I found one. After months of podcasts, research, browsing, and such, I found a duplex that should cash flow enough to cover it's lack of expected appreciation. 

It was listed for $69,900. Both units rent for ~$600/month and are already rented with property management in place. After a brief offer/counter back and forth, we settled on $63,00. I have my home inspection and termite/moisture inspection tomorrow afternoon and will be getting the official mortgage documents in order as soon as the inspections both satisfy me.

I will be getting a conventional bank mortgage at 5.25% with 20% down and 2 points. I'm not positive this is the BEST I can do, but it's the best I've seen in my area for my 1st investment property.

I am beside myself with excitement over the thought of setting my future retirement in line for the desired age of 45. There should be a few more updates in the near future regarding further progress with this property...or if I have to walk away ;(

If anyone has any brief advice just to make sure I have my ducks in a row during the process, I do appreciate it. Thank you to everyone who has posted to help the newbies out. I know everyone starts somewhere, and to give forward comes from the heart.