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Updated almost 9 years ago on . Most recent reply

User Stats

174
Posts
39
Votes
Justin C.
  • Rental Property Investor
  • NW, PA
39
Votes |
174
Posts

Stopping by to say hello from Erie, PA!

Justin C.
  • Rental Property Investor
  • NW, PA
Posted

Hello BP!  I've been a long time student of real estate beginning with Rich Dad Poor Dad almost 10+ years ago.  Life has taken me to TN, Long Island, Phili, FL and now back here at home in Erie.  I have a great mentor and great real estate attorney who is also willing to be my hard money lender.  I have developed a great relationship with these 2 gentlemen over the last 5 years by selling their cars, doing their home IT work, advertising, and just adding overall value to their lives.  Without these 2 guys I would not have the momentum and security to pursue these dreams. 

The real journey began with a property I found about 2 weeks ago. Price was great at $43k with an ARV of $120-140k. As soon my mentor and I walked in, we both instantly realized it would be too much for my first investment, so he turned to me and said "do you mind if I just bought it?" So, he made an offer that the buyer accepted and he handed me $2k. About 4 hours worth of work. I tasted blood...

The next day, I made phone calls on 2 other home and focused on one. Did a few hours of research, decided it was worth visiting and went the next day along with my mentor again. We walked through, he gave me the thumbs up and I made a cash offer that was accepted on the spot. $17500 with an ARV of $40-50k with $600p/m area rents. I close next Friday and intend to flip this property with a goal of $10k profit.

I hope to continue this process with the ultimate goal of 4+ house next year or one per quarter.  

I'm open to any buyers, sellers, partners, etc... I have a terrific attorney and property manager on my team and am forever grateful.

All the best, cheers!

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