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Updated about 7 years ago on . Most recent reply

User Stats

11
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12
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Michael Piccolo
  • Investor
  • Bothell, WA
12
Votes |
11
Posts

Finally closed on my first property!

Michael Piccolo
  • Investor
  • Bothell, WA
Posted

It took 3 months of searching around America, got an offer accepted 3 months ago and negotiated for seller to do some repairs, and we finally closed yesterday! Thanks to bigger pockets and the community I own a 4plex in Alabama! Wish me luck!

Thanks to everyone for advise and encouragement!

Most Popular Reply

User Stats

11
Posts
10
Votes
Kevin Stalbaum
  • Investor
  • Libertyville, IL
10
Votes |
11
Posts
Kevin Stalbaum
  • Investor
  • Libertyville, IL
Replied

Congrats and a word of caution.....I bought my first flip two years ago and now I can’t stop buying houses!!!

Just closed on my fifth flip this month. You’ll be surprised how much faster you begin making purchase decisions on each subsequent deal. This last one I got was just around a week from finding the property to signed contract.

Additionally, you might be pleasantly surprised how the deals start finding you. My first was a bank owned SFH from the MLS. Second was joint venture project I found through my RE attorney because he saw what I did on my first project. Then I saw a FSBO sign which ended up being a house that was under contract by a We buy ugly house franchisee. Different wholeseller saw my precious two cash purchases and mailed me a postcard which lead me to another flip which was a small 3 bedroom townhouse. And then a simple bandit sign on the front yard after I was under contract on deal #3 got me my current project.

Gotta love it!!! Big thanks to BP for all the knowledge and motivation!!! All this wouldn’t be possible.

I wish you continued success.

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