Getting Traction...

[Peter Crabtree]

This is no big amazing success story, but I am getting the ball rolling, and that is exciting for me! I have accepted an offer on a single family that I bought as a foreclosure in 2012. I have rented it steadily for the past four years with a $300 per month cash flow. I have not kept excellent records on expenses, but I am estimating this to be a $20k/4 year Buy and Hold deal. I also just closed on a foreclosed duplex (in Morristown, TN) which I plan to BRRRR. I should have it rehabbed in a few months and can begin screening renters. Lastly, I just closed on a HELOC on our primary residence, giving me a decent amount to draw on for down payments and rehab costs. I am hoping to buy 3 more duplexes over the next 18-20 months, cash flowing approx. $2,000 per month. I am also looking keeping an eye out for good potential flips. I am still fine tuning my long term plan, but the goal is to eventually be working in real estate full time.

(Keyword knoxville)