Hi my name is Josh, been lurking around for a while but not anymore. Hello bigger pockets, this is my introduction. So a little bit about me.
I started investing in real estate when I bought a duplex in my home state of New Jersey using some inheritance money that my grandma left me as a down payment. I bought in my early 20's was young and naive and paid way too much. Still own the place and try to make it work but of all my real estate deals this is the worst haha. Go figure it was my first. Learning from my mistakes it has taken me a little longer to get the ball rolling than I wanted. The numbers are ok on the duplex but I definitely paid too much and it really messed up my dtv as the property value fell. Still I have made it work and was able to move on. Payments currently are 2500 a month for mortgage taxes and insurance and the place brings in 3000. This place has taught me so much about being a landlord. Current tenants are great but I have gone through the gambit and have learned along the way. When the place flooded during hurricane sandy that was a nightmare situation that I could never have anticipated.
Inevitably my life took me west and I moved to California, to the tahoe area. Got a decent job saved a little bit of money and bought in the reno market when things were still fairly depressed. Bought my first one for 45k all cash, a pocket listing from a realtor I made friends with. Still have it rented to the same people at 700 a month. With a 130 hoa and taxes at 400 annually this place has done great for me. after that one I had an offer for a short sale go through 48 k purchase 4 k in rehab sold in for 68k soon after. Picked up two more after that. One for 28k that rents for 400 a month with a 70 hoa and another one at 50k that I put 6 k into, sold and did a 1031 exchange to acquire my newest property.
210k purchase price with 90k down owner financing on the remainder at 6 percent interest only for 5 years with balloon payments annually. The property is a farm rural california. It's in an AVA valley and it has great water. I never though I would come across a deal like this but with an open mind I and realized being a landlord can extend to almost any type property. I put 60k in improvements to the infrastructure to get a commercial tenant in there. I have the place rented at 4000 a month currently . So that is where I am currently. Still got a decent amount of debt to pay back but I am cash flowing pretty decently right now. Still work my regular job and hungry for that deal that will break the barrier and allow me to do this full time. thanks for reading a liitle about me and to bigger pockets for providing this wonderful platform.
Josh Sharon
