New Investor in South Central PA & Philly

[Zachary Paul]

Hi everyone! I've been following the forums on BiggerPockets for some time now - such a great resource.

Just got my 1st Single Family Residence under contract today - very excited and looking forward to the home inspection. Doing just a typical conventional fixed 30 year mortgage for this first deal. Was able to get a substantial deal on the place and will be able to net $400+ a month.

My strategy is to buy and hold properties for building wealth and income over the long term.

Anyone have any advice on how to get started after making the first investment - how difficult is it to get the second deal done?

Thanks - Zach

[Ned Carey]

Ah, I suspected that might be the issue. It's easy to do deals when you have money. The second deal will make you a better investor because you will have to get more creative to get it done.

It has been said "I do my best deals when I have no money. Because I have to do good deals."

One a year is a very achievable goal.