Let's ROCK AND ROLL!

After 2+ year of research, talking to many real estate professionals, I've finally made the plunge.  I even have moved my family to be closer to the market I have targeted.  My strategy is simple...buy SFH's and rent them out. No intention of flipping or selling later on, although anything is possible.

My target market now has plenty of cheap SFH's that fall into the 50% rule. The only problem now is I only have enough capital to buy and fix one at a time. Hopefully I can find some private money to keep the ball rolling.

Three weeks ago I purchased a 4 br home for $22,300.  I paid cash, and am in the process of rehabbing.  Right now I'm up to about $10k in rehab costs, which is WAY higher than I originally thought. But I will still make money each month because it will get $800/month in rent. It's been a very difficult 3 weeks, but the house is almost done. I have a young couple who wants to rent the house, they're supposed to have the money this week. WE will see...don't mean a thing unless I have cash in hand. As soon as I have the signed lease (and money) I will go to my local bank to cash out refi. I have visited them many times and have developed a relationship with them. Hopefully things will go smoothly!