First investment offer

[Tell Szpp]

Hey all,

Been lurking for quite some time.

Quite excited about making an offer tonight on my first real estate investment. Been watching for a long time waiting for the right deal and found it today.

Single family home, with small attached garage, lots of mature trees in both yards. The home is in great shape. It is an estate sale, and seems to have belonged to an old feller that was content with the way things looked, so the house is stuck in the 70s. To make things even better, the kids decided to try and Reno, but only got as far as gutting most of the basement, and one bathroom. Making it less appealing to others and cheaper for me. It’s only a couple blocks from the only private school in town, as well as a few blocks from the best elementary school and hospital.

I hope to get the house for 165000, and started at 145. Spoke with my contractor and plan to put around 60 into it and should have a market value of 290+ when we are done. I hope to keep it as a rental.

Writing this surely is making it sound easier than it will be. I’ll keep everyone posted on the deal, and will hopefully have the chance to share update pictures.

Thanks for all the help I’ve read over the years.

Only advice I could share right now is keep looking for the right deal and when it shows up, you’ll know. I’ve seen 30 other houses over the last few years that had me thinking hard. But when I saw this one I knew it was time to jump in.