9/17/2004 05:17:58 PM|||Travis|||

First Real Estate Deal

The summer has finnally reached its climax over here in Missoula. I now own real estate. People pay me rent. Life is good.

The mortgage paperwork for one loan is long enough, but since I got an 80/20 there were two wonderful piles of paper that needed my signature. Somewhere in there was the paper that actually gives me ownership, which will soon be recorded in the Missoula courthouse.

For those more interested in the actual numbers of the deal, here is a summation I made using the financing that I just obtained: http://www.tekgnos.com/duplex_plusfunding_new.pdf

As my accountant pointed out- you are upside down! And this is a very valid point. But my plan is to flip, so I am going to be selling it ASAP. As in, as soon as someone can say- Convert that to two townhouses!

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