And So It Begins... My First Rental Property Renovation...

[Mark J.]

First, thank you to BP for building a treasure trove of valuable and actionable information through the forums, podcasts, webinars, articles, etc... I've learned so much and built a level of confidence about moving forward than I would not have otherwise had. I've also connected with a few fantastic local RE investors who I wouldn't have otherwise had the pleasure of knowing and learning from.

Last week, I closed on my first REO/Foreclosure property-- a 6/4 duplex in Tampa. It was vacant for more than two years and needs extensive renovation. Every day, I'm learning a tremendous amount-- things that I simply couldn't learn only from reading blogs or listening to podcasts. You just have to begin, take the plunge, make the leap, do the hooky-pokey, whatever you want to call it.

The purchase/closing process was very smooth and I've since been busy interviewing GCs, electricians, well system companies, and many more trades folks. And the BEST NEWS is that I just received an email this AM that I was approved for a line of credit which will cover the entire renovation. Thanks and appreciation for the push from @Ben Leybovich who challenged me to seek financing at local community banks.

The reality of what I'm about to embark on sunk in yesterday when a big red dumpster was delivered in front of the duplex. I feel like a Freshman starting his first semester at Cash Flow University!

And so it begins... ;)

Mark...