Finance before romance

Like most newbies I chose to start my real estate investing career by wholesaling. I've been at it for a few months now with one deal closed. I had some hiccups along the way, but kept pressing my way through. While starting my wholesale journey I went and got myself married. We had a very small ceremony with family, and decided we would save up for a real honeymoon in a few months.

Fast forward 3 months later I'm on my 3rd direct mail campaign, and have saved enough funds for a small getaway with my wife.  Then it happened: Did a walk through on a property from one of my motivated sellers, and the numbers worked for a wholesale. But I found myself looking at the potential of the property. So I approached the owner about owner financing. They originally asked for 20K. The final agreement was 17K with 20% down and monthly payments $350 No Interest.

I couldn't believe they accepted the terms. If you only knew how often I had to hush the voices of doubt in my head to even get the courage to submit this offer to the sellers!

You know nothing about rehab

You know nothing about being a landlord

How the heck can you be a landlord when you have one yourself

How are you going to pay for the rehab

You get the picture...

Most of my fears are of the unknown, but guess what we are going to figure this thing out! This weekend I have several contractors coming by to provide a bid. Next week we are heading to the bank with all our info neatly organized, to inquire about a loan.

This is scary for sure, but just as exciting! So needless to say our small getaway has been pushed back because those funds are going toward paint, drywall, or something!