My First Deal!

[Account Closed]

My first deal was an interesting one!

I started out going on individual showings with a Real Estate Investment firm throughout properties in Detroit and the surrounding suburbs. After going through many, many properties I narrowed my focus as to what I was looking for.

From that point forward I was on the lookout for a 3 Bedroom, 1 Bathroom, Ranch with a 2 car garage in a hard working neighborhood. A few weeks later the Real Estate Investment firm contacted me with a great deal! It was a foreclosed property with very little repairs needed. I bought it for $23,000 and collect rent on it for $925 a month.

Since my first deal I have done a varying range of other deals from Land Contracts to Wholesale flips.

I now work for this same firm (after pestering them with 1000s of questions) and I am really enjoying everything about the business. It has become my personal goal to spread the great news about the opportunities in Real Estate for those who never have even considered it.

I feel very fortunate to be in the position that I am in and cannot wait to pay it forward.

The best advice I can provide for a new investor is to not be afraid of taking the first plunge. Do your research and once you make the first move you will never look back!

Take care!

[Jon Klaus]

Getting 4% of the purchase price in rent, per month is great for the 20th deal, let alone the first. Did it need any rehab?