Hello, New user joining from the Bay Area
Hi Everyone,
I'm fairly new to investing and started my journey down this path early last year with thoughts of purchasing my first investment property. I have been looking at deals for a while and a LOT of offers last year to be outbid on most. I went into contract on a duplex and the lender took over 2 months to close so the seller backed out. Which turned out to be a good thing because shortly after that i found a quadplex that i went into contract on in Pittsburg. The seller was moving out of the state in retirement and purchasing properties closer to where he was moving and i talked to him about picking up another one as he owned 6 quadplexes on the same street. So decided to pick up 2 quadplexes. I didn’t negotiate much on the price of them as they were cash flowing in excess of 12% for cash on cash return.
Finally closed in december, a few days before Christmas (great christmas present).
So a proud new landlord looking forward to getting into another deal or two this year to expand my portfolio. I have a full time job so trying to supplement my income fully and grow a retirement portfolio.
I’ve been following these forums for only a few weeks now, wish I had started earlier, but some terrific information and I look forward to being part of this fantastic community.
So, just saying Hello to everyone!