Our very first deal!

[Yoann Mamy Randriamihaja]

Hi All,

Just wanted to share the good news with the community that helped us greatly.

My wife and I purchased our very first property!

It is a 3 story brick building with 3 residential units and one commercial that should cash flow a bit more than $100 per door when fully rented.

We already have one unit rented and are doing some work on the 3rd one (while living on the 2nd) which gives us the opportunity to vet our contractors.

Already looking toward the next deal, targeting a SF rehab purchased with private money so that we can have it set up in place and start building a track record.

Thanks a lot to the BP community!

We'll try to be more active on the site (and put up a profile picture as well)

Yoann and Lucie

[Yoann Mamy Randriamihaja]

@Eric Mauricio

It would be quicker to say what we didn't get from BP :)

First heard about BP when we were freshly out of a 3 days guru seminar and wondering if it was worth the $30k (by increasing credit card limit and all the good stuff). Seeing the comments on BP and the amount of information out there saved us the money that was then available to us for our down payment and "education".

The BP podcast's book references taught me how to analyze a deal, and I'm still using an excel sheet that I downloaded from BP for that purpose.

Podcast 15 with Glenn and Amber Schworm made us aware of an existing real estate investor's club in our area that we joined. Networking there helped us find our real estate agent, mortgage broker, real estate attorney and HVAC contractor that we are now working with.

By contacting several BP members from our area, we got references for contractors. We've been working with one successfully and he was able to perform the sub floor repair needed to pass the appraisal before closing.

We gained a lot of information from BP and Brandon's book on "investing with low and no money down" (don't quote me on the title :) ) regarding FHA loans.

One of Brandon's quick tip about audio books and the availability of Rich Dad Poor Dad on youtube made me discover audio books (was not convinced it was for me before that), but it turns out I'm loving it! I bought the complete audio book and plan on buying more to listen to during commute.

All of this combined inspired us to persevere, and hearing about the success stories of other beginners gave us the confidence needed to take actions.

To make a long story short, BP helped us a lot in acquiring this first deal :)