First deal Southern Illinois

[Steve B.]

Hi,

We are very excited to have our first 2 deals. On the same day that we got possession of 6.5 acres of undeveloped land, we also secured a contract on our first buy and hold rental.  That was a few weeks ago and we now have possession of the single family home. 

We are just going to hold the acreage for future use at this time.  It is across the street from the subdivision we live in and think it could be valuable in the future and were fortunate to know the owners so we had first dibs on it before it hit the market.  We got it at a fair price.

The sfr is a small 2/1 in a good school district and is a clean but not beautiful old house.  We are currently doing some minor repairs, painting, cleaning and upgrading the electrical panel.  Have only had it advertised for a couple days and have already had several calls, have shown it a couple times and have sent out several applications. 

We are nervous, anxious and excited all at once.  I have listened to the first 183 podcasts so far, read Rich Dad Poor Dad and done a lot of research so we are hoping it pays off.  Motivated but green.  Wish us luck.

Thanks BP