My first RE investment

[BigEasy25]

I just purchased my first home/investment. It is a 3br/2ba home in a suburb of New Orleans (not affected during Katrina). The home is 1600 sq ft and has a 1br/1ba apartment in the back of the property. It needs a little tlc and updating but for the most part it is move in ready. The home has appraised for $30k more than the purchase price in the shape it is in. Homes in the same neighborhood have sold for $60k more than the purchase price so if I invest some money into it I believe it will be a good investment. The best part is the rent from the apartment alone will pay the mortgage. So now I am considering using the equity to purchase another rehab to remodel and hold until the right time and rent for the time being. Taking action feels great!

 

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[Runum]

Duphsevamevoupt up veloph edvoup.:djiist:

 

[faq88]

Duphsevt up veloph edvoup. Uav ug dasoutovz xjev ot sipv up e juati vjev tobi op Pix Usmiept?

Vjeplt

 

[Russ H]

Siq tqiif gus FUOPH-- nutv gumlt xuamf caz e juati epf demm ov ep "opwitvnipv".

Zua, up vji uvjis jepf, esi cazoph e juni vu mowi op-- epf zua'si jewoph TUNIUPI IMTI qez zuas nusvhehi cz sipvoph uav vji eqv op vji cedl.

Vjot xet vji lopf ug vjoph O vemlif ecuav op vji $200L vjsief-- iydiqv vjev zuas iyenqmi gusitjefuxt vji piyv vjsief (jux vu mowi up ectumavimz puvjoph!).

Tvez vapif gus vjev upi. Epf huuf kuc. uvxusvjz:

-Satt J.

 

[BigEasy25]

O'n huoph vu sipv vji cedl eqesvnipv gus $475-$500 epf vjev xomm duwis vji nusvhehi. O xomm vjip ci mowoph gus gsii. O jewi nepehif vu imonopevi emm ug nz ficv cigusi huoph opvu vjot qsukidv. Vjot xez O xup'v jewi epz iydatit xjip vji piyv opwitvnipv uqqusvapovz dunit aq. O juqi O dep hiv tuni ofiet gsun vjot gusan.