Three firsts for me this week

[Michael Hayworth]

Been doing this for several years, but I signed contracts on two new houses this week that represent three firsts for me.

House 1 - tenant-occupied 4/2/2. My first purchase from a wholesaler, and my first purchase of a tenant-occupied house. I've been approached by a lot of wholesalers with dubious deals. I've watched this particular one for several months now, and his ARVs seem realistic (even  low, in some cases) and repair costs seem in the right ballpark. He was doing a group tour and on-site auction of a house in a school district I regularly buy in. Went just intending to observe, but ended up pulling the trigger. I'll be figuring out the process of absorbing an existing tenant over the next week or two.

House 2 - My first vacation rental! It's 1.5 blocks from Cowboys Stadium. I've been looking for years to get something in this area. Saturday, as I was walking 10 blocks to the stadium for a concert from the discounted $40 parking spots, I pulled up Realtor.com, saw that one had popped up, and bought it the next day. It was priced a little high for a basic 900 sf 2/1/1 in that are, but as a vacation rental, the cash flow should be excellent. I'm very excited about this one.