In today's episode here on Thought Hustle, we go over my first home purchase, the numbers can be found below!

1.       The total closing costs came out to $10,911 for the inspection, Appraisal, Radon Test, Insurance, attorney fees, and closing costs. I saved about 50% of my income for months to pay for this!

2.       The mortgage on the home is $1081 and I plan to rent it for $1250. My yearly income will be about $2000, which I will set aside for any repairs and maintenance the property requires.

3.       Cash On Cash return in nearly 19%, the COC is how much income you will receive, divided by the closing costs. Once I move out and rent both units, for $1250, my Cash on cash return will be over 150%, which means that the amount I put down, will be paid back within a year. Under an FHA loan, you must live in the home for a year. 

4.       In total, for the spackling, repainting, and minor repairs, it will cost me about $2,000

Those are the numbers, listen to the episode to learn about my first employee, my upcoming book release, and how YOU can get a free copy of my book. So you can learn how much you need to invest today, to retire a millionaire!

Click HERE to get your free copy today!

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