BiggerPockets is ADDICTING

[Chase Schneider]

Hey BP Community, 

I started listening to the Bigger Pockets podcast January 20th, 2018. Prior to that, investing in real estate had never been a thought. 

On April 18th, 2018 we closed on our first rental property in Kansas City.

After a week of listening to the BP podcast and reading BP blogs, real estate just made too much sense not to pull the trigger. I think I would have gone crazy listening to the podcast without taking action. 

My wife and I have been on the financial freedom train since March of 2017. During that time we cut expenses and started saving/investing in ETF's as much as possible. Our goal was to reach financial freedom in 15 years, by age 45, but weren't sure if it would be possible. 

Now having real estate as the catalyst I think it is completely possible. 

Excited to be part of the BP community,

Chase 

[Chase Schneider]

@Craig His We purchased one unit of a town home. We ended up agreeing on $47,000 with them paying to fix the roof prior to closing and then giving us $900 at closing to fix the back sliding door. 

We put 20% down and got financing through a local credit union. 

We inherited renters that have been there for 12 years and would like to stay. They pay $725 in rent and there is a $90 HOA fee per month that we will pay.

Overall we won't do many updates since the current tenants like it how it is. 

Prior to putting in an offer on this one I would guess that I ran the numbers on 50 plus properties. When I found this one I texted a realtor friend that night and called a couple banks the next morning. 

Good luck as you continue to look for your first deal.