BP! Im very ecstatic right now! Got the first deal in the books and im ready for more! I dont even know where to begin, the 5 minutes at the closing table with the seller was worth the 21k I used for down payment, lets begin ill keep it short.

My wife and I are optimistic NEW real-estate investors in Lancaster, PA. It took me some time to get my wife on board but it finally happened. I've been in the analysis paralysis for over 2 years, we let deal after deal go by to just watch the market climb higher and higher. If we did not act, we would eventually get priced out. We were interested in lancaster city and surrounding areas and also columbia boro.... we ended up in Lebanon, PA. We found a property that was turn key and jumped on it. The property will rent for $950 maybe a little north of that and we purchased the home for 86k with a $315 mortgage payment. After expenses we will cashflow $263. Here's my monthly expense break down.

Mortgage 316,taxes 86, insurance 38, repairs 5%, Vac 5%, CAPEX 8%, MGT FEES 8%.

CoC ROI = 14%

For all the newbies out there here's a shout out! make sure you look into city ordnances, I had no idea you could not mgt a property in Lebanon outside a 20mile radius, I did not calculate for mgt fees so I lost 8% right off the top. Also make sure you are allowed to put utilities in tenants names. This was easily figured out on there city site, I just never looked.

Here's the Kicker to the whole experience. I was the first one to make it to the closing table between my wife and agent, they lagged a few minutes behind me. The sellers were sitting across the table and i thought what the hell lets spark a conversation about the property. Found out that they are big time investors with 400+ units. I Started to ask as many meaningful questions possible as I sat in excitement knowing how important this conversation just got for my future investing. I now have a meeting with them for private money lending. My goal was always to brrrr. I cannot wait to start this journey with properties around our area.

Without this deal, I will probably be in the same circumstances I was before. Yes the property is not in the best of area. But the numbers work and might have helped me just jumpstart my investing career.

That's my first deal.

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First deal done, lets do another! getting our feet wet.

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