Tuesday, January 10, 2012

#115 - Buy 6 properties and own a real estate empire!! 2 down! :)

Ok, I should be farther along on this bucket list goal, but hey...better late than never! :)

So I reviewed my 2011 goals in Dec, lol, and saw that one of my big goals was to buy another prop already. So I start looking and next thing I know the duplex next door is up for sale! Talk about the Law of Attraction!! lol.

3227 S 10th St, Milwaukee, WI 53215
It's a plain looking 3/2 duplex on the outside, but inside it turns out to be a gem - original hardwood and woodwork, stained glass, french doors, buffet, updated kitchens, and super clean! Best of all it was going for 20k under assessed value, I was able to roll in the closing costs, got under 4% interest, and figured out a way to only put down 3.5% to seal the deal!!!
3227 S 10th St, Milwaukee, WI 53215
So once I close this deal I'm 1/3 the way toward finishing my master plan. I know, I know...many of you are saying "I don't wanna be a landlord. It's not worth the hassle." But I say, no pain, no gain, baby! How can I say no to investing 5k in and getting 200k back?!! Think about it!! ;)


Jessica said...

Congrats! I'm getting ready to finally rent out my first home and I guess I've just always planned on purchasing more property but no immediate plans for that. Just...someday...

But, sounds like you got a great deal!

diana... said...

amor so proud of you. Just watching you growing big dreams. You are incredible.