Just Closed My First REI Transaction!

[Robert Saunders]

[Insert Sign of Relief Here] I've been actively searching for my first real estate investment for well over a year now. I've been looking for a 4-unit apartment building to "Househack", occupying one unit while renting out the other three. I have a masters in real estate development and an undergrad in business & finance. I've been working in the real estate industry for about 4 years now as an investment analyst. I even decided to become a Realtor to get access to the MLS. It's been very frustrating and a little disheartening trying to find a house that requires my contribution to be less than what I pay now in rent while paying a 10% cash on cash return. I've been far outbid by cash buyers with quick closings. I've even been under contract and it fell through during due diligence. I've gone as far as to open up my investment criteria to include townhomes as a live-in investment option; but to no avail.

After all that, I can FINALLY say that I've closed on my first REI transaction... It still wasn't mine though. I coincidentally ended up representing a like-minded client in HIS first real estate investment. I was able to help him find an asset that met his investment needs within just 30 days. It wasn't MY first investment but I was able to experience that moment as a professional, and it felt good. The search continues; on to the next one.