#DealDeepDive I bought this property Nov2015 at 24yo in what was considered the hood for $42k (appraised @ $60k.) Put $12k down & got a $30k mortgage from a private investor. I had purchased property before but this was my 1st purchase w/o a partner.
The $30k mortgage was a 10% interest only deal. She (private investor) made $250 every month ($9k over 3yrs) as my mortgage payment. I got a tenant paying $1,100 for rent. So after taxes/insurance made about $700 addt’l #PassiveIncome every month
The $30k mortgage was a 10% interest only deal. She (private investor) made $250 every month ($9k over 3yrs) as my mortgage payment. I got a tenant paying $1,100 for rent. So after taxes/insurance made about $700 addt’l #PassiveIncome every month