Updated almost 8 years ago on . Most recent reply
1st deal through auction.com
After several years of contemplating real estate investing, I finally closed on my first rental property! It's a 4/3, 2065 sq ft SFH built in 2011. Wells Fargo foreclosed on the owner and sold it in an online auction through Auction.com. My winning bid was $84,050; conservatively, I think the house is worth $135,000 - 145,000. We have placed a tenant for $1300/month.
Although I had read a fair amount, on BP and elsewhere, prior to purchasing this property, placing this house under contract really accelerated my learning process. I started at Podcast #1 and have listened to several dozen since. Knowledge is stickier when it's not abstract. My encouragement to other newbies would be to learn enough to analyze a property, then pursue a deal. For me, action has fostered knowledge and enthusiasm. I'm more excited than ever to find other deal.
Many thanks to everyone in the BP community who has taught me so much through podcasts, forum posts, and articles.
Most Popular Reply
Its hard to get deals if you do it the hard way. Let me know if you need some assistance