Newbie from Reading, Pennsylvania - First Post

[Zachary Sullivan]

Hey BP Members,

My names Zack Sullivan, I'm originally from a small town in Schuylkill County PA. In September 2017, after being sick of commuting an hour each way to my job in the Reading PA area, I bought my first investment property from a coworker looking to dump a property close to my work after his father had passed away. During the previous year, I had listened to the BP Podcast religiously on my commute to and from work, which was instrumental in giving me the confidence to move forward with buying. The property was an up/down duplex in a great school district and neighborhood, but was dated and needed some TLC. I purchased the home with an FHA 203k loan, which was used to make various repairs including a new roof, new windows, new gas furnaces, new A/C units, and new electrical service/box. Over the next 8 months, I continued rehabbing the house myself to update my unit's kitchen, bathroom and rearrange the floor plan. During the rehab process, I got my first taste of being a landlord with inherited tenants. So far, so good. Looking back, I probably paid way too much for the property given the amount of time and money I put into the property, but Im hoping the cost will be offset by a decrease in Cap Ex./Maintenance costs for a few years.

Moving forward, I would like to begin to network with other investors in the area, continuing to educate, and purchase rental properties in the suburban Reading area using the BRRRR method. The ultimate goal is to build a sizable rental portfolio to supplement my income and achieve FI by 35.

Thanks BP for everything that you all do! Im excited to become more involved in the community and start giving back all that Ive learned and continue growing as well!