All Forum Posts by: Ron West

@Mendel Robbins price is $17,500 in 31705. I have looked through the lease and payment statements from the tenant, who has been there for four years. Rent will remain $450 per month. Thoughts?!

@Kadeem Wells Thanks for the feedback. The water heater looked pretty new but I couldn't tell much about the plumbing. I am meeting with the bank today to go over the loan and appraisal then getting a inspection tomorrow. After looking at some other comps in the area the I could have 5-15k of equity to reinvest somewhere else but we will see. I am in the Albany market right now. 

Thanks @Jake S.! Yes the rent is at market level. I have the inspection scheduled for this Friday and should here more on the appraisal tomorrow. Thanks for the advice.

Looking for some advice... I am in my due diligence on my first rental property. It seems like a good baby step to start with as I gain more hands on experience. I live in south Georgia and the prices seem to be great for someone like me starting out. 

So here the stats. Its a single family (3/2 1300 sq. ft) built in 1958. Its was previous base housing but the base closed in 1974 and now its a neighborhood. The bones seems to be in good condition, brick on a slab with new roof and HVAC, while the inside is a little rougher but mostly dated. It has a tenant for 4 years that has paid on time each month and the reason the owner is selling is to invest in other properties. Cash flows roughly $200 per month and that's being conservative. 

So after touring this home a few hours ago I started to panic on the inside. On paper this seems good and a step in the direction I want my life to go but I have this burning fear inside me saying run away and stick to your 9-5. Is this normal and how can you overcome it? Any additional insight would be greatly apprenticed also!