2 so far, for the year

[Steve Short]

So, we obtained a rental through inheritance, (would rather have Mom), but as she passed we decided to not sell the place and keep it as a rental here in Cali.

The tenant hadn't had a rental increase for quite some time, so we bumped it nominally to just under market valuation(s) for the area. They weren't thrilled with the increase but not too unhappy either as they knew they had a good deal going and we have been good landlords to them.

Now, that door nets around $125 including mgmt fees which we'd like to get rid of, but have to get a new tenant based on current agreements in place.

Once that happens, we'll get an additional $95 per month, but we're patient.

We closed on a fixer in Texas with structural issues others were afraid of and got a good deal that works for us.

Once we're done with repairs I'll post 'em up, but looks like around $500 per month, net, for this door.

We put 30% down, and are cash flowing and doing repairs OOP.

So, why I am posting is this,...

For newer investors, take your time, the market(s) are saturated right now in many areas.

Irrational exuberance seems to be everywhere currently. (We looked extensively in Colorado as well)

Deals are out there, but this one took us almost 6 months to find.

Know your area(s), know your limits.

We'll be trying for 4 this year, but as it is, not sure if the uber hype will last, or for how long.

I appreciate all that I have gained from BP, and helped keep the encouragement going as it has been very tiresome looking at several hundred or even several thousand deals so far this last year.

SO thank you all,

Steve and Peg