Saturday, May 31, 2008

Finding a cash flow positive property

Saturday, May 31.  Hi all!  How are you?  I hope well.  Today was a busy day teaching golf-8 hours in a row.  As the years go by it's tougher to do that, but I'm thankful because the income is nice.  Tonight is another night on my own, as Paula is in Grand Rapids teaching modeling.  Yesterday, as I mentioned, I went to McKinley properties and they gave me a whole bunch of properties to look at as investment opportunities.

Well after work today, I confirmed that one of them is actually priced cash flow positive.  That means that after putting a down payment on it (hopefully 20%), there is still money left over after paying expenses.  Which further means that as long as it's rented out, it will make money for me year after year.  Of course there will be occasional repairs needed, but it will be a source of passive income for as long as I keep it.  So it's actually the first time I've found one in over a year of looking.  My plan right now is to come up with money somehow to put down on it and get started with my real estate plan.  It's very exciting!

I hope you all have a good day or night, and I appreciate all the support and love from everyone.  I will talk to you tomorrow!  Bye!

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