Updated over 8 years ago on . Most recent reply
Nervous start....just push me
Please someone / anyone just push me over the edge. We have study, research, observed, you name it we did it to educate ourselves in real estate investing. Now we are at a point were we just keep hearing the same things over and over. But I have this fear something is not going to work out and we will end up losing earnest money that really can't afford to lose.
I have what I believe is a great deal.
ARV 140k
15k repairs
Cost 80k
30 days to close
Could rent for approximately 1500-1600 should we decide to hold.
Problem is saying 'this is my first property' I think scares PML so it has been difficult to find the funds.
Anyone know of a PML willing to take a chance?
Most Popular Reply
Of course it's scary @Linda Sandoval (great name btw!), it's nerve wrecking, stressful, and full of unknowns. Just make sure you've done all your research, possibly getting quotes from contractors, have your team ready and go! As long as you have the ability to pay for things if they come up, because oh they will... jump in! It's going to be a roller coaster, but if you've ran the numbers and feel confident about the comps, go for it.
Your feelings won't change tomorrow, or next month, or next year.. the only thing that will help the nerves is experience. After a few deals, you know what to expect and it becomes a really fun and exciting ride!