Today I am closing on my first BRRRR! I have learned a great deal. Spent a little more than I should have, but I am counting it up to the cost of education. I will still cash flow at a couple of hundred every month. But do you know one thing that I am very excited about? I have taken a sad little stinky house and made it into a pleasant home. I've improved the neighborhood. I've educated myself and still made a profit. Thanks so much BiggerPockets! Your tools, expertise, forums and podcasts gave me the knowledge and the confidence to start. With this refi, I can move on to the next project!
Congratulations Julie!! That's a great story and now you can keep growing!
@Julie Walker congrats!
Congratulations! First step is always the hardest and scariest! You should be proud of yourself, you did a good thing for the community.
That's great! @Julie Walker .
@Julie Walker Congratulations! It feels good to know that you did something to make it better. I'm sure all the neighbors are happy you improved all their property values too.
Looking forward to hearing about your next purchase! Keep up the good work.
Congrats! Glad it went well for you and I look forward to hearing about your next project!
Congrats @Julie Walker !
@Julie Walker Update: There have been ups and downs. Tenant there for 8 months. Always paid rent late with fees, allowed the toilet to leak until in ruined bathroom tile, had AC issues in summer and a rodent issue in the fall. All were addressed and it was pretty expensive. Then she broke her lease and left in December without telling me. Utilities unpaid and had to jump through hoops to get the transferred to my name because of this.
So have turned it over to a property management company. Hopefully 2020 will be a better year.
Good news is a lot of money spent on the front end so hopefully will be less on the back end and can start catching up.