Updated over 7 years ago on . Most recent reply
First Investment Property: House Hack Duplex (EVICTION)
Good Morning BP Nation,
Purchased my first investment property in Greenville, NC approx. 4 months ago. It was fully occupied (Month-Month) tenant B (6 year occupancy) - had to boot them out for my owner occupied FHA 3.5% down loan. I inherited tenant A until September 30th, 2018. Long story short I have already filed for an EVICTION (2 months behind rent).
It has been quite a terrible experience for me thus far although I know that it only goes up from here. Thank you to the BP podcast and all of you beautiful people for your positivity and shared experiences.
Numbers -
Purchase Price: 123K
Mortgage Payment all-in: $870
Roommate: $300
Tenant A Rent: $650
Income = $80 (while living for free!)
If anyone has any advice for someone 4 months into their investing career please share below!
Cheers,