Closed 1st deal today

[Tony Kempisty]

Hi Biggerpockets community - I've listened to hundreds of podcasts, several audiobooks, countless hours on youtube, and recently have been spending time with local investors... and I just closed on my first investment property this afternoon.  So I'm pretty excited!

Breakdown of the deal:  off market property owned by local investor. Roughly 900 sq ft 2/1. 

Purchase price 27k. Estimated repair cost 25k. Arv 75k.   There is room for small bedroom or a bathroom addition. I'm leaning towards full bathroom... I think with 2nd bathroom I could get 800 month rent. 

I financed the property with a construction loan from local bank and hopefully when I refinance I can get my money back out and start working on #2....  

I'm not much for social media, but wanted to share the good news with the BP community :)