It's a done deal!
Now the proud owner of my very first investment property in Oro Valley, Arizona. Needed a few extra days with escrow but overall a pretty smooth transaction. I have already met with a reputable property manager and should have it rented out by the beginning of October! After figuring all income/expense calculations, the initial return rate will likely fall between 8-9%, not bad for my first one. Nice to finally have that stack of cash invested elsewhere besides a measly 0.8% "high-interest" savings account.
Other than that, retirement funds continue chugging along in the proper direction. If I can establish another sizable stash of capital and this first rental property does well, maybe in a few years time I can buy the second one as planned. Just gotta make sure the world doesn't fall apart by then. |