Newbie's First Year As an Investor

[Mike Ojo]

In the last 12 months, I purchased my first 2 investment properties. One tenant occupied, and one Airbnb. Both are single family properties. Here are the numbers.

Property #1

- 3br Single family 

- Purchase price: $175k

- Out of pocket cost: $0. I partnered with a family friend who provided all the funding.  My stake in the deal is 30%

- Tenant occupied @ $1445/month

- Net Income so far: $250/month

- Equity gained so far $5,000

Property #2

- 2br Single family

- Purchase price: $140k

- Out of pocket cost: $35,000. $33,000 went into renovations. The property is now a 3 br house with private access for Airbnb guest.

- Airbnb

- Net Income so far: $500/month

- Equity gained so far $75,000