Rules of the #100DaysOfRealEstate challenge

The rules of the challenge are simple but hard to take in effect: Everyday you must make an actionable step in your real estate investing journey and you must post about it. You can either write a blog post/ start a topic in the forum/ add something valuable to a conversation in BP. I find that by doing something every single day, no matter if it's a lot or just lil' something, I learn faster and things stick. Also, by writing, you put your ideas into paper and can help clarify your thoughts and even learn from yourself. Share your journey with everyone or just do it for yourself and self improvement! Today I will post about where I'm standing on one of my first deals.

Day 6 - Finally offer got accepted at $55,000 when asking price was $70,000. Doing numbers, 5-10k on repairs max hopefully, including new cheap kitchen 2k approx, it cash-flowed while rented at competitive price. Location location location is the best in my interest. If worst happened I could just move in instead of renting. 

I'm currently talking to lenders to see if they can finance this type of property. I'm hoping I can finance at least 80%. Also, trying to work a way to try to turn water/power on so I can properly get the property inspected before closing.

The next crucial step is getting the option contract from lawyers selling property so I can discuss and edit with my lawyer and protect myself. Discussed these issues in the forums and got really helpful replies. This proves once again the value in doing the #100DaysOfRealEstate challenge. So many connections, recommendations and tips, all for free, thanks to this community!