My first deal!

14 Replies

Hey guys I figured I would come in here and speak about my first deal as an investor. I got a pretty good HUD deal that didn't need very much work at all other than paint and a few other minor things. Bought it at a good price, did a little work, and slapped it back on the market. Within a month I had it under contract and set to close at the end of this month! Im also an agent so I was able to get the commission on the buying side and save on the listing side!

Purchase Price: $94,000

Rehab: $3,000

Contracted price:127,000

Holding costs and agent fees: ~$5,000

Im excited and looking forward to my next one but I don't think I'll luck up and find one this easy again. On to the next one!

@Marcus Kennedy ,

It is always nice to hear about a nice deal.

Congratulations!

Raymond

Nice work Kennedy! Keep it up and we will all learn from you very soon:)

Thanks guys. I'm looking forward to my next one! Ill keep you updated.

congrats! Where did you do the deal?

@Markeilsha R. In Birmingham, Al where I'm from. It's actually a little city right outside the city limits but for all intents and purposes in Birmingham.

Congratulations!!!!!

Congratulations!!! That first deal always feels sooooo good. A lot of hard work but it pays off. Looking to hear about your next deal.

Congrats! Not a bad pull for a months time and not much sweat equity involved. :)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you