Accidental Real Estate Investor!

[Andrew Acuna]

Well here's where I'm at. In 2014 I bought my first house. It was an old 4b2b  2700ft2 that needed a lot of repair. At first I thought my wife would get on board with the whole live in and work on strategy, but I was dead wrong. She hated living in an old home and after almost two years she was fed up! She told me to find her a newer house that was much smaller.

I began to search and was not finding what I wanted until my realtor told me about a 4plex that was available in my area. He also began to tell me how much he could sell my house for (significantly more than I paid with almost no rehab cost). So we began to do the deal. I spent about $3000 to redo the original hardwoods myself and we had already repainted! This house was in a very desirable area at a very desirable price. I bought it for 86500 and sold it for 116000 with very little out of pocket. As I realized what I would have upon completion I became excited. We put on offer on the 4plex and it was accepted immediately. 

The problem was I didn't have a lot of cash (almost none actually). My realtor came back and asked for the 1% earnest to which I said, "I don't have that yet!" Long story short the seller agreed to a much smaller amount of earnest and ultimately the deal went through!

I was able to purchase the 4plex with only 3.5% down on an FHA and I now live in one and rent the other three. They are brand new so there is very little in expense and I am not actively pursuing other investment opportunities. It's very safe to say that I caught the bug!

I look forward to connecting and learning here on BP, I love this site!

[Kai Kopsch]

Hi! Andrew what a great story you've share and welcome to Biggerpockets.It's Sound that you are going to start in real estate business career.Yeah! you are at the right site to learn more here in BP. Biggerpockets community can answer your all question.Good Luck to you..