New Member from New Jersey

[Erik Pedersen]

Hello all!

I figured my first post should be in the introduction, so here goes:

My name is Erik Pedersen I am 24 years old and I currently live in a basement in Bayonne, NJ.

Sounds bad, but this is actually my first rental property. It is a 2 family house that I bought in December with an FHA Loan. I updated both units - paint, got rid of carpet, updated light fixtures, etc. etc. in the 1BR and 2BR all the while finishing the basement.

It was a crazy 5 months - doing much of the work myself and with a handyman. But I ended up being able to rent out the 1BR in Feb. and the 2BR in April, and I moved into the finished basement.

I cashflow $260 a month - getting paid to live where I want is a pretty sweet deal.

Now that that is done - I will start chapter 2 and begin trying to wholesale where I will be posting in that forum next.

I got into real estate after first going to a 3 day Rich Dad seminar - and I met a stranger there who happened to live close to me - and we went in on the 'advanced training' splitting the cost (which was a lot!)

Anyway, my 9 to 5 is doing IT for a big insurance company - which I very much want to leave.

BP seems amazing and Im looking forward to asking and trying to answer lots of questions.

See ya!
Erik