Taking the plunge

3 Replies

Hi BP friends,

I am a contractor by day mainly remodeling homes especially bathrooms. I've been wanting to get into rentals and flipping for at least 10 years and have finally took the plunge.
I found a house that was a VA foreclosure that I bought. It appraised for 15,000 more than I gave for it, then I went in and did some upgrades. Haven't gotten it re-appraised yet but I did finish the upgrades and put a renter in it before the first Payment was due thank goodness!! My goal is to buy at least 2 or 3 more each year for the next 10 years. I'd really like to get into multi-family properties as well.
I guess my question is what should I do next from here, I want to keep moving forward but not sure I can with money tied up everywhere. Should I sit back for 6 months or so and then tackle my next property?

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