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Iām really excited to say that I have finally been approved for my first investment property. 9 Units. All single family units. 8 houses are on one street and one deed, and the other is just a few blocks away. I expect it to cash flow $2,000/mo. All are currently rented out with longer term tenants. Appraisals are set for next week. Expect to close by around the 1st of March. If you have any good resources for new investors please let me know.
This advice is straight from Fixer Jay himself. Close on the 2nd of the month if you are inheriting tenants. This way the seller must collect the rents and provide them to you.
It gives you basically 30 days to inform and change how the tenants pay rent now and a small amount of working capital for repairs.
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