Hello, new member, excited about this adventure

[David Yamamoto]

Hey folks,

I'm from Seattle and just bought my first investment property near Huntsville, AL.  Probably overpaid a little but I figured it was time to stop the analysis paralysis and get some skin in the game.  I've read a lot of books over the years and have been listening to BP podcasts, but I figured the real lessons (and cost of education) will come with jumping in and learning through doing. I had to do a turnkey for the first one since I'm a little intimidated about trying to reno a property remotely. 

Hope to learn a lot for you folks!

David. 

[David Yamamoto]

Quote from @Michael Dumler:

@David Yamamoto, Congrats on the deal! What indications are there that you may have overpaid for the property? Does the deal still cash flow? Did the appraisal come in lower than the intended purchase price? Do comparable properties support the purchase price? Did other competitive offers bid up the property? I agree with you, the best way to learn and sharpen your investment knowledge is to dive in and take action. Best of luck! 

 It is a competitive market there right now... every listing was going over asking and multiple offers.  I sort of got caught up in that mostly because of a locked in rate that I couldn't let pass.  So a little more on the purchase price at a lower interest rate seemed like the way to go.