All Forum Posts by: Michael Bennett

@Michael Slockers yeah i haven’t had to deal with the inspections as of yet, luckily the house was already section 8 approved. I know my time will come through!

Thank you!

@Michael Slockers good morning. I ended up purchasing one property. Sales price was 58k so with the 20% and closing cost I paid about 13.5k up front. The house did have a current section 8 tenant that is paying $819 a month. My terms is 15years and interest is the current rate plus 1%. At the time of closing the rate was 5.5% so my interest rate is 6.5%. My current mortgage is $410 a month, insurance is $80 a month and taxes are about $50 a month... I received my first check this month and felt like a kid in a candy store! lol!

I’m currently in contract with two other properties in the same area. A 3 bedroom SF and a 1-1 duplex right next door to the SF. Just waiting in the appraisal to come back from the bank.

Hello @Kel Richards. I financed the 20% and the closing cost from savings. The total came out to about 13.5k. The bank I used was First Bank of Owasso and the banker’s name is Nick.

@Jeffrey Holst good job! I started a few months back when i joined and I’m on episode 50. I’ve learned a lot so far and I’m looking forward to what’s in store!

@Michael Ablan thank you. I plan on saving all of my cash flow from this property plus my reserves for that reason. Hopefully it doesn’t get too crazy for me on my first property.

@Brady Lamprecht yes sir it definitely is! Thank you!

@Ehsan Rishat thank you

@Amy H. Thank you!! This is only the beginning :)

@Clarisse LaGrone thank you!

@Dylan B. Thank you. I actually purchased it from one of my mentors. He buys the houses in build in that area and makes them turn-key. Which is how I was blessed to already have a tenant in the property.