Just Bought My First!

[Carl Cunningham]

Supper excited to announce, that I just closed on my first piece of investment property. Two Bedroom, Two Baths, Detached One Car Garage, all for 9K. I think its a pretty good deal. Ready to Rent and looking for my next!

[Jason Genovese]

Gratz,   I'm in Saint Louis too.   I have seen some really cheap houses in the area, though nothing as cheap as $9k, more like $25 in the not so good neighborhoods/school districts.  I thought about buying a inexpensive house as they cash flow better on paper.  After reading some blogs and posts on BP's  on what to expect with these cheaper homes, I decided to put these high risk, high reward opportunities on hold until I have more experience and cash reserves to take such a risk.   I also know an investor who does cheap homes across the river in Cahokia (has 11 properties), and he is constantly having issues collecting rent and with repairs.   But he is ok with that because of the good cash flow.

Anyhow, good luck and I would be interesting in your experiences

Jason