Bought First Property Today

[MacKenzie Clinton]

Pop the champagne! ;) After a year+ of lurking here and 3.5 months of searching, we closed on our first property today!! Exciting and terrifying ;)

We are getting quotes this weekend on some work we want to do (and some the insurance company wants), we have a lawyer drafting a lease.. and hopefully we will be ready to advertise and rent by the end of March :)

It is great to come on BP and see encouragement- there are so many debbie downers out there when you mention rental properties!

Any words from the wise?! 

[MacKenzie Clinton]

Originally posted by @John Spina jr:

Im new to real estate investing and I was wondering if you had any tips for someone just starting out? How did this deal come to you? 

 Well clearly I'm no expert, since I am just starting out myself :) 

But for finding property, I picked my target market, and used tips on BP to calculate my target price range for certain rents. I scanned the MLS often, tried 'driving for dollars,' and the main agent in the area was aware of what I was looking for. She brought this property to my attention months ago but it was too expensive. When the price dropped in to my price range, I had an inspection and made an offer :)