After locating our first property, negotiating an acceptable price, and finally closing in mid November, I am excited to officially be able to consider myself a real estate investor. The property is a small, single family, in a small market, however we were able to secure a decent tenant, and $300 passive cash flow / mth, after only two days of listing. Our target is to invest in ready to rent, single and multifamily homes, and this one certainly fits well into that criteria. New roof, New central ac/ht, new water heater, and stove, left very little prep prior to listing is for rent. Patience has been the biggest obstacle so far. These types of properties are few and far between, but we understand that our current lives do not offer enough time to buy low and remodel, prior to renting. With this being my first property, I leaned hard on Bigger Pockets for structure and guidance. This turned out to be so helpful, because after studying this site for several months, I decided to use the listing agent in my pursuit of this property. This gave me the option of asking if the agent would consider giving up their listing $ to make the deal. (Which they did). I would have never known about that option without Bigger Pockets. Now the search is on for the next property and hopefully another nice story to tell.
