To buy or not to buy? (First deal cold feet)

[Yuriy Kaunzinger]

Hi everyone! Long time member, semi-first time poster. Here’s my situation: I was bitten by the real estate bug in my senior year of college (2-ish years ago) after reading Rich Dad Poor Dad. After a long time of reading, researching, and relocating (NYC -> Delaware), I’m one week out from closing on my first deal. The deal is a short sale, in a seemingly nice neighborhood, exactly one mile from The University of Delaware. My plan is to do a live in flip (Purchase price $172K, Reno $14K), and then rent out rooms to friends, roommates, etc. the property is basically move in ready, but the renovation (which would be almost all DIY) is an attempt to have the property appraise near top of market at $240K. All in all everything seems good, and going according to plan. The numbers work, nothing’s holding me back, but I keep feeling increasingly nervous. I’m still fairly young (25), and nobody else my age that I know is even talking about purchasing property yet. Does anyone have any feedback on when they purchased their first deal? Does everyone get these jitters around this time, or is it just me?