Just closed on first deal!

[Allie Bloyd]

I am still pretty new to BP and have gotten a lot of info so far that has helped my partners and I get started. I just wanted to let out a big Woo Hoo because our first deal just closed yesterday! Knowing that I'm officially in the game is the greatest feeling. I'm sure I'll be posting for some tips here soon, but I just wanted to share the excitement!

[Allie Bloyd]

So the property is in by Hurstbourne and Watterson Trail in Fern Valley, Louisville Kentucky. It was a HUD home that had 2 days left for owner occupancy bidding when I found it. Went and saw it, ran the numbers, and made an offer the morning that they opened to investor bidding. They were asking $57,000. We knew there would be multiple offers so we offered $60,000, all cash, 10 day close. It is a 4 bed, 1.5 bath with 1,350 square feet. The comps run from $115,000 - $130,000. We estimated a $30,000 rehab, but after getting all of our quotes in, we're right at $22,000, with about $8,000 contingency. Can't wait to get started!!!