We are in our mid twenties, and just paid off our mortgage.

two-hundred and twenty thousand dollars?

The major portion of the income will come later from appreciation, either in the form of cash-out refinancing or selling, or simply from the rental cash flow once twenty year mortgages are amortized.

I was buying on 30 fixed about 8 rentals, I thought 30 year was great because I was in my mid twenties, now at 32 I am financing only on 15 year mortgages.

Note: I plan to put in some rehab such as bathroom, kitchen,floors, trim, basically stuff that I'm familiar with having been a home owner for twenty years.

It's always fun in a roaring real estate bull market!

That price range is pretty low even for the IE, unless you want to pick up something in a war zone in San Bernardino or out in twenty nine palms were vacancy rates are 20% or more .

The previous owner is a pair of old folks living there for last twenty years and I bought it last year and two sisters in their 30-40s moved in.

I was taught how to craft my elevator pitch by Jay Abraham personally, about twenty years ago.I started with 1-1/2 pages and distilled down to about 4-seconds, as spoken. 

Hi all,My wife and I are contemplating our first real estate investment and are trying to decide if this deal is a good fit.About us: Late twenties, no children.