A Newbie’s Progression

[Kyle Lathon]

My wife and I started the process in early 2021. We live ‘out west’ and knew we couldn’t afford an investment property in our area. We chose a city in the Midwest where home prices were more reasonable for us. Also, I was somewhat knowledgeable of the area and had some connections. We flew in and toured some properties (waste of time for property searching but a good getaway for the wife and me).

Through our realtor and after being outbid several times, we found a property that worked. It took about two months.

Before closing we’d lined up a reputable property manager just awaiting notification of the property. Within 3 days of closing, keys were handed to our property manager via real estate agent, minor repairs were done, pictures were taken and the house was listed on several rental sites. Within 7 days of closing we had tenants! (Note to self: Keep the property manager!)

It has been three months of ‘set it and forget it’ income (fingers crossed).

Still A Noob