New Member from Douglasville Georgia

[Tim Lindstrom]

I have actually been a member of BP since July,  but this is my first post.  I listened to all the podcasts (some twice), read the free books from BP,  and bought Brandon Turner's book on investing (title is too long). 

I have been toying with buying a property for several years,  but was afraid to pull the trigger.  Unfortunately that caused me to miss the sale of the century on housing,  but there are still a few good deals left

I plan to start with SFH's and reevaluate after I get a few under my belt. I just closed on my First property last week. It is tenant occupied, which is good, but scares me a little. I didn't screen the tenant, but he has been there for 8 years, and has 10 months left on his current lease. If he pays on time, I'd love to keep him another 8 years.

I think I got a good deal.  I payed 70K for the property,  and it is renting for $900.  this is about $100 below market rent,  but if it keeps the tenant in place,  I'll let it sit below market.

[Tim Lindstrom]

@Sibbir Noman - Thank you Sibbir.

I have a good feeling about this tenant.  The previous owners said the tenant only called once the entire time he lived there.  and that was to tell them there was water in the basement during a major storm years ago.  When I did the inspection,  I found out the dishwasher doesn't work.  The tenant said not to spend any money on it since he rarely used it anyway.   

Who doesn't want a tenant that keeps to himself, and only calls when it's something I need to know about the house.

I plan to do an annual walk through to check for leaky, or broken things, which is more than the previous owners did.