The Journey has begun!!!! Closed on 1st property

[Justin Kroepfl]

After 8 or so months of learning and listening to almost every episode of the bigger pockets podcast episode I finally pulled the trigger on my first deal!!! Basically the deal was 99K for a duplex with current tenants that have been there for 11 years on one side and 3 years on the other. Many improvments such as new roof and electric water heater done within the last year. Partnered with a cash investor who fronted the cash and everything is split 50/50. Rents are 625/month per side. My payments to partner are 330/month including tax/insurance coverage. This brings me to around 295/month cash flow that is going directly to savings for any potential future expenses and towards the next investment. I am handling the management myself so I can learn more about dealing with tenants and managing the business. Have an offer in on my next property and will keep you all posted if it goes through!! Goal for the year was to buy 5 multi famliy properties and I may have two before January is over!! 

[Steve Stackman]

The journey to a 1000 properties begins with the first closing. Congratulations.