First Property Bought. I Am Now an Investor

After a 24 hour delay in getting off the vessel, I ended up staying in Mobile for a night. Nothing seemed to go right on demobilization day and with almost no sleep, a 7 hour drive home seemed like a bad idea. One good thing happened and I got an email lead from my website. Someone from one of my mailings got on to my Preppy Panda site and filled out the form. I got the email late Monday night so I decided to call the following day. I did do a little research on the house and it was a 3 bed 2 bath one story in a decent part of town. The comps came back at 130K ARV.

I woke up around 3am on Tuesday morning and decided to get a head start on my drive home. I listened to BP podcasts the whole trip. During the drive, I called the lead from my website and setup a time to meet to see the house.

I got home around 10:30am, got settled and then passed out early. This morning I woke up refreshed and headed to the bank to get a cashiers check for just over 18K. The price of the house, closing costs and taxes from 2015. Closing was at 10am for me and at 10:30am for the home owners. I spent about 15 minute at the title company signing paperwork and then left for lunch with my wife. I went back to the title company after lunch to pick up my keys to the house and the rest of the paperwork. I am officially an investment property owner. 

At this point, I still haven't seen the house, so my wife and I drove over to see the house. Originally we had planned to meet the other home owner at the 3/2 property for a walk through before heading to my property, but he called at lunch time and said he had to cancel. Apparently the renters that just moved out hadn't left him the keys so he had no way to get into the house to show it to me. So my wife and I went to the new property to see what I had bought. The property was in just about the condition I expected, so there were no surprises. 

Contractors are scheduled for this weekend and next week and I hope to get all the supplies bought by the end of the weekend. I should have demo starting in less than a week.