Reflecting on 2017 goals to this point
Hi All,
I know it's been awhile since I've made a post, but it's getting that time of year to start reflecting on how well you did compared to what you set out to do at the beginning of the year.
I wouldn't call this a success story just yet, but I'm hopeful I'll get there.
I've been a member of this forum for several years now, mainly reading all the posts and gathering information. Last year, I wanted to take action but didn't know how I wanted to tackle my real estate goals. I had just moved to Baltimore at the end of 2015 for a job and still learning the area, but I knew this would be the place to start acquiring properties for myself.
I synced up with some great people here in BP in the Maryland area that helped me achieve my goals. Especially my agent who's been patient, as I had gone under contract on a property at the beginning of this year but to see that fall through. Now though, I just closed on a duplex last week.
As much as it was disappointing to see a potential investment fall through, in the meantime I had been developing a relationship with a rehabber in the area and the money I would have used for that property I loaned to him to fund his deals. In that time frame to now I was able to save up more money to fund a down payment separate to me loaning the money out. It was because I used an FHA loan I was able to come up with additional funds in a short time to cover the down payment (hooray owner occupancy).
So now here I sit, with a duplex in hand and money invested in rehabs, going over what I want to have in store for myself for 2018. I do know I would like to be more involved in rehabs.
I know I have a lot to learn in the field of land-lordship, but in the end I have a place to live and own myself, and currently refreshing one unit so someone else will pay (most of) the mortgage. Let the journey begin!
Brian