Deal #1 in the books a week after college graduation!

[Ryan Goldfarb]

Hi all, After years of soaking in anything and everything real estate related that I could find, this winter I set out to complete my first real estate deal by the time I graduated college. I missed my goal by a week, but I finally closed on deal #1 in late May - one week after my college graduation - at the age of 22. I purchased a SFH in Memphis, TN after visiting in late-September and learning a ton about the market. I opted to go through a turnkey provider as I was willing to sacrifice a bit in the way of profits if it meant a greater chance at getting my first deal under my belt. After the mortgage, management fee, insurance, taxes, and maintenance reserves, cash flow is about $180/month, which equates to about a 10% annual cash-on-cash return. Thanks to everyone who has contributed here over the years as I'm one of the many beneficiaries of this fine community! As far as the future goes, I'm hoping to transition into multifamily properties in the near future, but I'll have to get a little creative to make that a reality.