Almost got my First Rental property Closed....Thoughts??

[Jacob Rivera]

Hey Guys, I'm about to close on a Duplex which, will be the first Property I ever own.

Just wanted to share it with the community & get your thoughts on the deal

Purchase Price: 118,000

interest rate: 4.125

Estimated Mortgage Payment: $1,131

Smaller 2bed & 1bath= with a tenant $750/mo, currently a month to month lease but tenant wants to stay so I will have them sign a 1year lease.

Bigger 2bed & 2 full bath......currently empty (I did not want the previous tenant so they moved out before closing), was renting for $850 but I will likely increase it to $900-$950 which is on par for the area.

So I'm looking to have bring in 1600-1700/mo in rent.

New Roof & home is in good condition but who knows what the future holds

Property is in a Suburb that rents pretty easily due to proximity to lake, amusement park, and quality school district.

I feel good about the deal but I'm curious to get feedback & some advice, with the winter here & in full affect my 1st cost is going to be someone to plow but I'm excited about it overall. 

[Matt Harris]

Doesnt sound too bad sounds like you bought in irondequoit. Best of luck