It's official...we're landlords!

[Cody Lindstrom]

It's official. Our journey started in August of 22 with research and education, home searching and decision making. It is a difficult time to buy based on the interest, but on May 31st, we were able to finance a nice ranch style home in our area at 5.75% with a VA and keep our existing home to rent out, which I believe, qualifies us as official landlords and RE investors!!

The new home is a '76 ranch style in a great area right down the block from a grade school, and across from the golf course and a recreation facility. It's currently a 4/1 with an unfinished basement, with each floor offering about 1150 sqft of living space. We will live in and remodel the new purchase over the next two years. We plan to do most of the work ourselves. This will give us time to work out kinks, determine costs, timelines and develop skills and experience in remodeling. After we are finished with the project, we will decide if we want to sell or rent this first property.  My hope is that the rental market is still as strong as it is today. Wish us luck on Property #1! 

Thanks for all the education BP Fam!