Today I became a Land Lord

Finally!

Author

Pablo Ottenwalder
April 04, 2025

Words I like: 1️⃣ Reactance – People resist being persuaded when they feel forced.
Fix: Give them a sense of control. Let them make the choice.

Pablo’s Perspective:

After five years in the real estate industry, I’m finally a landlord! I successfully acquired an off-market, seven-unit mixed-use property and secured owner financing from the seller.

Here’s a breakdown of the numbers:

  • Purchase Price: $555,000

  • Down Payment: $25,000

  • Interest Rate: 5% with a 25-year amortization

  • Monthly Payment: $5,000

  • Rent Roll: $4,800 (with 2 vacancies and below-market rents)

The plan is to update the property and increase the rent roll to $8,000 per month. Once stabilized, I’ll either refinance and hold onto it or sell and do a 1031 exchange into a better property.

I’ll be documenting this journey through my channel. I believe this property will ultimately be worth around $750,000-$800,000!

**We currently have 1812 subscribers and we are growing everyday!

Let me know your thoughts on this!

Pablo