Old Man Newbie in Tennessee
Hello all,
I have been a member of the site for awhile but just now getting around to an introduction.
I'm fifty-six years old, have been researching owning rental properties for a few years after learning that a relative had done very well doing it. I asked him to tell me his story and thus began my effort toward owning residential rental properties. My wife and I began arranging our finances, reading some of the popular books, talking to lenders, and looking at properties. My research actually began during the real estate market crash, so at first it appeared that it would be very easy to find great numbers of cheap properties. However, by the time we were in a position to start making offers, the market had changed dramatically and it has been a psychological struggle to forget the days when there were foreclosures on every street. We finally closed on our first rental back in November, rehabbed over the winter, and our first renter moved in this week!
We are focused on buy-and-hold SF homes in Middle Tennessee where we live. My background is in trucking, my wife is a paralegal. She immigrated from Peru after we had met online and ultimately married. She is super-proud to own a residence, and now an investment property in the USA! Of course we hope to acquire more units.
Thanks to everyone on this site for your help and support, it is invaluable!
Dave and Carmen