First Time Poster - First Deal!

[Kyler Ng]

Hi all! I've been a member, reader, and listener on BP for nearly 2 years, but this is my first time posting. I owe most of my real estate knowledge to this site and its members. I recently started my career as a real estate agent just outside of Tulsa, OK and have been very thankful for the time I have spent on BP before getting my license. The info shared on this site has given me a great deal of confidence in speaking to others about their personal real estate purchases or potential investments.

I am currently under contract on what will be my first real estate investment! It went through foreclosure and came on the market last month. Here are the numbers:

Purchase Price: $75,000

Rehab: $10-15,000 (mostly cosmetic work, already went through inspections)

ARV: $125,000

I partnered with a family member who financed the deal and has knowledge on rehabbing and pricing the work that needs to be done. I found the deal and will be personally doing most of the rehab, as well as listing it once we are finished. I'm excited about getting started on what will be my first of hopefully many more deals! This post is mainly just to say thank you for all the great information you all share, and that I hope to start contributing to more discussions as I gain more experience!