Biggest Surprise?

[Corey Shields]

Hello all. I'm a beginner who is almost feeling comfortable enough (educated/prepared) to take my first shot at a rehab. I would like to ask you all a question: think back to your first REI project. Although you probably learned most everything you thought you should know, what came as the biggest surprise? Meaning, what happened that you totally didn't expect to be so difficult? Or perhaps the surprise could have been that some aspect of the project was EASIER than you anticipated. Any replies are appreciated. Thank you all.

[Joe Fairless]

@Corey Shieldsmy first deal was a 4 bed, 2 bath house I bought as a buy and hold in Duncanville, Texas. Bought it for 76k in 2009 and it rented for $1,095....until it didn't. The tenant got evicted after 2 months because of no payment then it took another 5 or so months (it's a blur) to find a new tenant. 

I was surprised that my mgmt company wasn't more on top of it and I learned that I needed to quickly make my first fire as an owner. I've been with the same mgmt company ever since and things have gone much smoother. 

I found the first property mgmt company from Google..don't find your property mgmt from Google. Instead, find them via referrals from other investors in the area.