I Bought My First Property!

I did it! I bought my first property!

I'm so excited that I actually kicked off my dream! I bought a house about a month ago and since then, I've been living in it and house-hacking it by getting 3 roommates that are paying my mortgage. The rest of my money is basically going into the house itself. I plan to either sell the house or rent it out in about 5-7 years after I pay off my PMI and hopefully have a different job or financial freedom.

For now, I'm just excited that I accomplished at least one BIG goal all by myself, with my own money for the down payment on a conventional loan.

I am also anticipating a lot of challenges. FOR INSTANCE....I just pulled up a section of my carpet in my basement to find water seeping in from one corner of the house. This little pain in the butt was probably an issue before I bought the property but neither the inspector, nor a structural engineer who came to check the foundation caught the problem. I've now embarked on the adventure of building a French drain system to re-direct water away from the property. I also need to figure out if there's any way I can get "someone else" to pay for the fix since it wasn't caught by the professionals originally or I would have reconsidered my purchase agreement.

Despite this hiccup, I know how to fix it thanks to some smart people in my life so I'm going to get on that ASAP. I am still very interested in investing and I'll be on the lookout for opportunities coming my way soon. I want to keep my momentum up. The biggest issue I've had in the motivation department is feeling so exhausted after working all day and then there's always something to do at the house after work. Whether it's finishing a piece of furniture so I don't have to buy new, or assessing the latest level of water damage, or planning a house-warming party on top of it all, I haven't even thought about what my next property will be.

So I'm very curious about how people stay motivated and keep going. How long should I wait before going for the next property? I'll admit, I'm nervous about money. I don't think I can do the next one on my own. Yet I still really want to make this dream come true by myself. Is that a silly ego thing to hold onto?

If anyone would like to share their thoughts, please do. I love advice, especially when it's encouraging! Best of luck to everyone and their real estate dreams!