Closed my first two out of state rentals

[Kenny Lundgren]

I just closed my first two out of state rentals in February,  so far so good.  I wanted to let the first month or so pass before I posted.  I am super excited and plan on doing at least 3 more this year.  I bought turn Key and have property management.  I learned a lot, good and bad.  Not really a lot of bad but a couple things i would have done different.  I now believe that when People say the hardest step is buying the first property they are correct.  I wish i would have started sooner when i first started looking into real estate investing.    I am now hooked and want to expand my portfolio as fast as i can.  

[Kenny Lundgren]

Thank you every one,  I invested in Memphis Tn.  I have family in the area and travel out there at least a couple times a year.   The reason i chose Memphis was, I figured i could always check on the properties when i am in the area.   

I paid $75,000 Each with 20% down, just over 1% rent to value and they each cash flow about $150 a month after figuring in vacancy loss and repairs.  If i had it to do over again i would have bought more expensive properties first since, this is my second and third loan i only have one more at 20% down, then it goes to 25% down.  other than that, so far i am happy with the deals.  I am looking forward to many more.