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Updated almost 11 years ago on . Most recent reply

User Stats

111
Posts
28
Votes
Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
28
Votes |
111
Posts

First deal under contract!

Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
Posted

Finally got my first 100% Investment property under contract! This is my second purchase, but the first property started out as owner occ, I don't know if I'll ever step foot in this property. It's a 3/2 in Warner Robins with about 1,500 sqft of livable space on .37 acres of land with some mature trees in a great neighborhood. Sale price is $75k, rents should be between $900 and $1,000 to start off with. It was a VA owned property. From the looks of it, it needs some cosmetic work to get a tenant in there, so hopefully <1 month after close I can have it on the market. However, it will need a new roof in a year or two. No leaks visible at the current time, awaiting the inspector to do his job next week and get me a better answer. But if I can wait two years, that will give me some good rental history and some time to get the money set aside without having to come out of pocket for a new roof! Excited to get my journey started and see how I handle two rental properties while I'm not local. Should be a good challenge and I can't wait! Thanks to the BiggerPockets community for all the help and encouragement!

Many properous endeavours to all!

Anthony

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