New Investor From McKinney, TX

[Wade Coggins]

Hi everyone,

As mentioned in the subject title I am a new investor from McKinney, TX, located just north of Dallas. I am 28 years old, married, and have two amazing children.

I acquired my first Buy/Hold property December 2015. Like many others prior to their first deal, my wife and I talked for years about the possibility of investing into real estate. However, we were just never able to make that NEXT step, or pull the trigger so to speak.

One day I called my mother and ran the idea of investing into real estate by her. It was early in the week and I talked to her often by phone. My family is very close and as corny as it sounds, I am a momma's boy. Anyways, she basically told me that it sounded like a good idea and she would see me that weekend. I get to her house that weekend and she says "Hey I know someone in the neighborhood who is going through a hard time and I think they are trying to sell their house". It totally took me off guard and I had no idea what to do or say. I was so unprepared and next thing I knew my mother got ahold of the owner and set up a showing for me. I met up with owner, the house wasn't on the market or anything at this point, and the she showed me the house. She said to me "All I am looking for is the pay off". My eyes got huge and I'm praying to please be low. Sure enough it was a very low price. I told her everything sounded great and let me talk things over with my wife. We purchased the property and it ended up being an excellent rental property, had a nice amount of instant equity, and cash flows very nicely.

No one could have told me my mother would be my source for my first deal. With my first deal behind me I had learned to open myself up to opportunity, continue to network/communicate with others, and continue to educate myself in real estate investing.

During the years prior to that first deal BiggerPockets had been a great source of knowledge for me. I am eager and look forward to helping others, gaining knowledge, and at this specific point in time see what I can do with my resources or other's resources to continue investing and acquiring my second investment property.