My first non-owner occupied Flip

[Jannelle Marshall]

It all started with BP, I meet a wholesaler on BP who once I looked over his profile was a great person to connect with. Why, because he was an experienced wholesaler and he lived in West Hartford CT. So he was in my neighborhood where I was looking to purchase property and he had experience. A few weeks after adding him as a colleague he gave me a call or email about a 2 family in Manchester CT. I really wanted a SF but after looking at the 2 Family it was too good to pass up. So I made an offer which was accepted, so now I had to find financing. I provided my signed contract to my Lawyer who I have used to purchase all my homes in the past, told her a little bit about my new endeavor into real estate investing and she told me about a HML that she does business for as well. Long story short he financed the whole deal and I left the closing with about 20k for re-hab cost. The re-hab went way over the 20k but I had purchased the property for 48k so can't go wrong with that. My intent was to flip and sell it, but then I did the analysis using the BP rental analyzing tool and realized I could make a killing off this property if I hold onto it. So I'm holding on to it, my renters move in next month and all my expenses are paid from one units rent. Next unit rent all profit. Not only that I have at least 50% equity in that property based on the completed rehab. BTW I got my BP account earlier this year, I formed my LLC soon after based on the information and insights from the BP community, and got my Real Estate license. I even found my Broker through a colleague on BP. Who ended up being an associate of my Lawyer and uses the same HML, so it's a small world after all. So from the bottom of my heart I would like to say thank you BP for being an integral part of my first success story and I hope and pray for many more. Thank you for also making the recommendation to write this story