All Forum Posts by: Joab Cardona

I’ll get on that then thank you so much! 

Recently bought a house 3 weeks ago it is a 4 bedroom 2 bath house I live in one room and have rented out the other 3 rooms. I am just wondering what should I be doing next as far as taxes, savings, investing, and reading. Taxes wise I have opened up a high yield savings account and putting money into it in case I do end up owing taxes next year, but what do I need to be saving as far as forms, I don't have the tenants on a lease yet since this is my primary on the mortgage, but I am giving them receipts when they pay rent every month and keeping those saved. This is my break down on the expenses, if there's anywhere I could improve or something I'm doing wrong not just in the breakdown put also forums wise please give me all the constructive criticism to get better in REI!

Bought @214,900

Down: $4,400

Down assistance: 10k Georgia Dream 

Mortgage: $5,550

Rent per room: $600 water/electric included

Wifi/Garbage separate: $35 each already split between tenants

Thank you I thought the realtor was responsible for all but thanks for clarifying my loan officer is responsible I’ll be sure to ask why the cost is so high. First property like I said so I just don’t want to feel or be taken advantage of especially since most things you can only learn from the process and not just the books we read

Currently in the phase of buying my first property and needed some clarification if I’m getting screwed or not I’m in Rome, Ga and that is where I’m purchasing the home it’s a flip that was a 3 bed 1 bath but has been flipped into a 4 bed 2 bath the asking price is $214,900 originally 230k but the seller wants a quick sell my agent told me we should give them the asking price and ask for them to pay 5k closing close I wanted to ask for 190k and same closing cost but agent said they wouldn’t take us serious so I agreed to agents terms as I’m signing paperwork electronically I see closing cost is 17k since seller is paying 5k brings it down too 12k but being in Georgia I am approved for Georgia dream which covers closing and some of down payment now when I sign at closing I have to pay 6k I’m wondering why is closing 17k my friend bought a property his closing cost was only 10k granted he bought his property for 189k but I feel like my agent isn’t really trying to get me a good deal should I back away from this property, find a new agent, go through with this purchase, or am I getting screwed in the process? 

Hi my name is Joab Cardona, and I am new to investing in real estate. I live an hour away from Atlanta in a town called Rome, Ga. My friend Derick got me interested in real estate by mentioning house hacking. He bought his first property near the end of 2023, and seeing how easy he made it look got me motivated, and inspired to get into real estate investing I am nervous and scared since this is a big risk but I also know it's more of a risk doing nothing and missing out on opportunities.