Posted by jason on April 07, 2006 at 16:48:17:
Oops, i thunk you was the OP!
Glad it worked out for you. all I’m saying is for a FIRST deal, that seems risky to ME. considering you put 5k down, and mortgaged the 100k, you likely had about 1000/month expenses (mort,pmi,insurance,prop tax,upkeep). Figuring 80% occupancy, you’d end up in the negative. And have 1000k to come up with to boot if you didnt rent it right away.
BUT, in the over all scheme of things, it looks like its working well fo ya! Kudos