just purchased my 2nd property!

[Brad Klock]

So I am excited and a little nervous. I just purchased a new property from Fannie Mae off of Homepath. I purchased the house for $9,200 and after closing am in for around $9,800. I plan on flipping this property and after a walk thru with my contractor it appears that it will need approximately 18-20K worth of work. The ARV is conservatively 50-55K. The home directly behind this one sold last year for 80K, but it is a little bigger. I purchased the house in cash and will be paying for the rehab with my own funds. I spoke with my bank manager and she said to call when it's completed and they will allow me to refinance for 80% LTV with no seasoning period. This way I can pull all my money back out of the deal. I am starting the rehab on Wednesday and since it is a bad time to sell houses with winter approaching quickly, I plan on putting this on the market in the spring. Let the games begin!

[Brad Klock]

I bought my first last year and besides a lot of rehab which I don't mind too much. It has been great. Just upset it took me til I was 35 to start this!  Hoping to buy at least 2 more multi units in 2016. After I get this flip completed and sold obviously. I would say just do as much research as you can on here and connect with people on here and just do it. You can analyze numbers til you're dead but eventually you have to take the leap.  Good luck and if there is anything I can do please get ahold of me!