First Real Estate Deal!!!

5 Replies

Hi all,

It has been quite a journey since initially starting my real estate investing education, but I'm happy to finally report that I've closed my first deal with a single family home.  It is not the biggest or sexiest of deals, but I'm happy to finally get my feet wet in the world of real estate investing with a tangible property.  

Although the hard work now begins with rehab and filling the property with a tenant (hopefully very soon), I'm incredibly excited to finally be an active investor!  With that said, I'd like to thank everyone that provided me with guidance along the way.  I hope that I can pay it forward and would encourage anyone that is starting out to reach out to potential mentors as well.  I certainly have much more to learn from others, but my mentors have all provided me with a wealth of knowledge and recommendations for other resources.  

I wish everyone that is starting out as I am the best of luck and extend a sincere thank you to all mentors in the real estate investment and BiggerPockets community.  Please feel free to connect with me in the forums if you'd like to like to ask about my experience or would like to speak about other real estate topics.  Again, I'm still learning myself but would be happy to provide you with whatever I can to help as many have and continue to do for me.  Keep your head up, don't get discouraged with set backs, keep learning and believe in yourself!  Thank you all and good luck with the remainder of 2018!

Best,

Jason Young

@George Boyd - Thanks for checking in!  The property is still in the rehab/updating phase with a planned completion date of Friday this week.  Yesterday we also extended an offer to an applicant whose desired move in date is September 21.  Hopefully the applicant will accept shortly and we will be all set to begin receiving rental revenues this month.  

Needless to say we are very excited and have learned a ton.  There are especially areas with the rehab that I know I can improve on for the next property I acquire.  Just as everyone seems to say, the learning is well worth it on this first deal.  I'm still very optimistic this will be a solid first deal and a profitable property moving forward.

I also plan on posting the final numbers and a summary of my experience once complete.  Can't wait to hear some more advice on how to improve for the next deal.

Thanks again for checking in, George!