Hey guys and girls!
After listening to the podcasts and reading the forums voraciously, I am under contact for my first deal! The property is a triplex in Phoenix in which I will be living in and managing. I am excited to embark on this journey fully invested and am grateful for all of the wisdom I have gathered from the community.
Congrats! My first duplex is also under contract. I am excited/nervous to start on this journey! Mine is currently fully occupied but I intend on serving the current tenants notice so that I can give the units a facelift and take rents to market prices.
Thank you! That’s awesome Sarah, congratulations! Are you going to live in one of the units when it is unoccupied? Good luck!
Congrats Chase! I am also under contract for my first triplex. My inspection is this Wednesday and I am sure it will be a learning experience. Best of luck to you!
That’s awesome, Ben! Thank you, good luck to you too!!
Nice! will the other 2 unit cover all your mortgage and expensive? like electric n heat etc. I ask because i bought a triplex couple of years ago and made sure I wasn't getting negative cash flow, instead I lived for free with my brother and kept every paycheck, one of the best time of my life.
Great job! @Chase Reynolds
It’s pretty close to free living while covering all of my expenses. For now I am going to pay myself rent as I would if I were a tenant to deepen my reserves and to be on the safe side.
That’s awesome! Sounds like it was quite the deal! Hopefully on my next deal I’ll be living for free.