First Deal as a Newbie

[Andrew P.]

I am the typical bigger pockets newbie story. Been listening to the podcast 4 years frustrated and spinning my wheels. Been under contract on a few but they fell apart on inspection. I have a 2/2 932 Sq ft under contract 15 minutes from my house for $145k. Plan to put 20% down and finance the rest at 3.5%. It should rent (per BP, rentometer, zillow) for $1200 a month. It is in great shape and move in ready, however because of that it is only worth around $145k. I'm paying market price. With 7% Repairs, 5% vacancy, and 7% Capex I stand to cash flow $289 per month with 10% coc. The plan would be to self manage so I can learn the ins and outs of PM and to hold for 10+ years. It is certainly not a deal that will make anyones radar but for me I think it would be a great base hit to use the baseball analogy. I understand many are saying wait in this market but I've been waiting for a long time. Any advice would be appreciated. Thanks