Today I finally filled my first rental. Thank you to @Brandon Turner and @Joshua Dorkin for starting this site and publishing your books. I have J Scott's Flipping books and Brandon and Heathers No/Low Money Down, Books on Rental Property and Managing and Tax Strategies. These were my 101 level of understanding (and beyond that too). I really appreciate how thorough and step-by-step you made them. It helped me to feel confident as I walked through each stage of the process. Thank you especially for your podcast which has accompanied and encouraged me on my commute for months now. Thank you @Ben Leybovich for the 201 level with your CFFU. Every lender I go to comments at how well prepared I am with my PFS, even adjusting their recommendation for my loan accordingly (apparently they weigh preparedness as a part of their criteria)

Thank you @Meghan McCallum and @Mark Holmes for mentoring me in my local market. (and the others that aren't on BP .... yet)

Thank you also Brandon for your webcasts. Your "Purchase your first home in 90 days" presentation really helped light a fire under my ***. I didn't make 90 days because my wife asked me to wait a bit but the direction was set at that point and I knew I would make it happen.

My first house: 1bed, 1.5 bath from the MLS. I went with a nice home that was easy to do for my first. (As Ben would say: Desirability!)

Purchase: $48k

Loan: $36k @ 20/5%/5

Rent: $750/mo

I used a HELOC to pay the down payment so my ROI is "infinite" so far.

It felt really nice today to be able to deposit that first check and hand my wife her management fee (I asked her to spend it on her and not the children!)

Now on to the next one!

12 Votes

15 Replies

Jump to Last Reply

First Rental, Rented

Most Popular Reply