First Property: how you did it and what you learned.

[Kyle Spinale]

I would like to hear people's experiences with their first property. How did you acquire it? What did you learn? Was it profitable? Likes and dislikes? Do you still own it? Why or why not? Just a brief story is good. I wanted to hear different stories. I look forward to reading your posts.

[Ronnie Gregory]

1.How did you acquire it?

First flip was a 3 bed, 1 bath, Cape Cod Style Home. Acquired it through HUD.

2. What did you learn?

How to lay tile, and how simple the process is. (SOMETIMES)

3. Was it profitable?

Paid $46,200 cash, put $15,913.07 in it, sold for $100,000 (3 days on the market)

4. Likes and dislikes?

Easy sell, no dislikes.

5. Do you still own it?

No.

6. Why or why not?

Market was hot, too much cash to be made. The home was on a main road, and it was being widened. They started the work after I sold it, and to this day (almost three years later) they're still working on it, wasn't worth renting out in my opinion lol.