My 1st Accepted Offer!

[Cody Barrett]

Wow. It really feels incredible lol. I joined Bigger Pockets last April in 2015 by Googling "Renting Properties" and up came a Bigger Pocket's article. I couldn't get enough! Long story short I came from not knowing a darn thing to getting an accepted offer on my 1st investment property a few hours ago lol... It has been quite a learning experience and I have Bigger Pockets to thank for that! I can't wait to continue learning and evolving into a better investor/landlord.  Hopefully closing can be quick lol.. 

Here is the deal:

2 unit Duplex: 2 bed 1 bath upper/lower built in 1920 with new roof electrical and windows done in 2006. Went on the market 11/2014 for 125k. It came off the market after dropping to 100k in 12/2015. It went back on the market a few weeks ago at 97,500. My guys loved the quality and gave me the thumbs up so I offered 77k. Long battle ended us at 89,500. Never negotiated before but I really enjoyed the whole process and really learned a few things from the experience. Current market value is 110k though and ARV is 130k. It just needs some updating really.. The upstairs is rented at 600 and he has been there for 5 years! Super clean renter from what I could tell and from what the seller explained. Lower unit needs oven/fridge. Area rent is 750 and high is 1100. I am super excited for this buy and hold to teach me the ropes. I cant wait to apply what I have been learning and what I will continue to learn from @Brandon Turner and everyone here on BP! Thanks for all the replies to newbie questions and of course for all the future answers to all my newbie questions! Happy investing everyone! 

Cody B