Small Success for a young investor

[Grant Smith]

So I have finally gotten around to talking a little about what I consider my first success into real estate investing.

Some background, Sept 13' I had just turned 23 and had been out of school for 9 months. Still reluctant on wanting to work a 9 to 5 minimum 40 hour a week salaried job and only working part time as a swim instructor I became really interested with real estate investing and immediately started fumbling threw books and online webinars and forums to gain as much knowledge as i could.

Like you always hear, the second you start broadcasting your goals and ambitions to people, a lot of the things you need are already their and waiting for you to take.

Fast forward to Dec. 13 and I had gotten a small team behind me ( loan officer(cousin), real estate agent(dad's friend), contractor) and i begun to scour the MLS looking for a home i could afford and figuring out the best way to do it.

With little money upfront, me and my team had decided the best route for me was an FHA 3.5% down and owner occupy for a year. I had found a HUD home that was rehabbed in 05 so major systems and roofing was only about 9 years old with a list price 100k cheaper than city assessment and 55k cheaper than average comps for the area. My bid was accepted and i was on my way to being a First time home owner. I did a little updating to the floors paint, ceiling and appliances and spent about 6k total including closing cost.

I now have two rooms rented out to coworkers and live for free as i continue to have my mortgage paid by my roomates. I will soon have plans to take equity out of the home and hope to jump start my investing business within the year.

Heres a few pictures of the udpates.

[Grant Smith]

Thank You @Account Closed , the only renovations i had to do was flooring and paint and remove popcorn ceiling texture so the counter tops were done when the home was rehabbed back in 05.

And to @Brandon Turner and @Joshua Dorkin , thanks so much, between the endless information available on this site threw the forums and blog, the podcast have been exception with my favorite question being, "how did you get started". So as i continue down my path of investing, years from now i will have someone asking me the same thing and using that as inspiration to go after their goals as well. You guys really run a top notch service!