How did it feel after buying your first property?

[Cameron Wutzke]

Hey!

how did you feel right after you bought your first property? Just signed on my first duplex and wow what a thrill. An addicting mix of adrenaline, dopamine, and fear of the unknown ahead.

Anyways, excited to join this community and make my first steps.

My name is Cameron, I’m an electrical engineer selling semiconductors. Excited to try house hacking, and reading way too much about real estate as I tend to do with everything in life! Nice to meet you

[Randall Alan]

Quote from @Cameron Wutzke:

Hey!

how did you feel right after you bought your first property? Just signed on my first duplex and wow what a thrill. An addicting mix of adrenaline, dopamine, and fear of the unknown ahead.

Anyways, excited to join this community and make my first steps.

My name is Cameron, I’m an electrical engineer selling semiconductors. Excited to try house hacking, and reading way too much about real estate as I tend to do with everything in life! Nice to meet you

Wait until you get your first rental payment!  That's fun!  Followed by your first big bill to replace something like a hot water heater or air handler... less fun!

Be sure to set up a separate account for repairs and maintenance and dutifully transfer a part of each rent payment into that account each month.  This discipline will help you be successful down the line as you incur operating expenses.  We transfer $100/month/property into our repairs and maintenance account and for the most part it holds up really well.  For duplexes we do $75/side.  It won't cover capital expenses like a roof, or big AC repairs, but it will cover the typical repair calls (plumber, ac repair, etc).  

Wash, Rinse, Repeat! On to rental number two will likely be your next motto!

Congratulations!

Randy 

@Cameron Wutzke