1st property under contract

[Jarod Castaneda]

So I know it is still a bit early to celebrate but I'm still going to share! 

I moved to Dayton OH from Reno NV on the 31st of January.  One week prior leading up to tonight has taken place:

I started to reading The Book on Rental Property Investing 3 weeks ago. I jumped on the BiggerPockets website 2 weeks ago and began listening to the Podcast 10 days ago. I joined at property investment group 7 days ago, listened to the webinar on 13 Feb and spent 2 days with an agent who is also a property investment owner. I just got off the phone tonight with great news. I just went into contract for my 1st rental property; 3 bed/1 bath single family home! I used the rental property calculator on Bigger Pockets and my ROI came out to 26.5% with a $323 monthly cash flow.

I will say this took every ounce of courage to pull the trigger...and I can't wait to do it again!!!

[Eric Mielke]

@Jarod Castaneda Congrats! Closing on my first duplex next month as well. 

My first contract fell through after the inspection - too many repairs and the seller wasn't budging on anything. But, the nice thing is there are more fish in the sea and we found a better property. 

One thing I have to try and keep in check are my emotions, especially after the inspection process if there are surprise repairs. It's easy to justify lower returns by thinking that capex/maintenance/vacancy etc will be less. I shouldn't do that. I'm learning to stick to my criteria and know that will be the best long term move. 

Congrats again!