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Updated almost 8 years ago,
Long time lurker, new investor.
Hello All,
I've been a member of these forms for a little while now, but I've just decided to kick off my Real Estate investing career.
I joined the Air Force at 18, spent six years enlisted, and was fortunate to acquire an amazing set of skills that allowed me to exit the military at 24 and begin making in the six figure income. Through a series of amazing investment and frugal saving, I have been able to build a pretty stable financial situation for myself. After doing quite a bit of research, and finally deciding to jump in the real estate game, I have pulled the trigger and purchased two separate Duplex's in my home town area of Southern Georgia (I currently work and reside in North Carolina).
Property one was purchased for $80,000, currently has tenant in both units for $1,300 total a month, and property two cost $106,000 with one current tenant renting for $700 (below market value for this unit). My brother, who will act as my property manager, handyman, and generally handle all of the in person activities associated with the properties will be staying in the second unit of property two with a reduced rent in place of all he is bringing to the table for me. Both properties are currently in the closing process.
The next step for me is to get a grip on proper property management, and making sure I start my Property Management Career on the best possible foundation.