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Thursday, October 20

Yes, Rented

Finally some good news.  House #9 is rented.  Last night I met with the new tenant to sign the lease and he paid me in cash for November's rent.  I have two small "to-do" items and then I should be finished for now.  It took a little more than 5 weeks from the time I closed on the house until I signed up my tenant.

I paid $22,500, spent about $5,000 on improvements, and am renting the house for $695 per month.  That's more than two times what the "safe" number (1% of my cost recovered per month) is so I feel good about this investment.

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