UPDATE: CLOSED A RENTAL PROPERTY 8/16

UPDATE: CLOSED A RENTAL PROPERTY 8/16

Member since 2019 · 39 posts · 29 votes

My previous post: 

https://www.biggerpockets.com/forums/12/topics/740552-closing-a-rental-property-in-a-week-and-need-a-lease-contract?page=1#p4361812

Acquired my first rental property in Morrell Park, Baltimore at $70,000 exactly a month ago and did some rehabilitation - modernized bathroom and kitchen, painted all the walls, replaced doorknobs, installed 2 more window A/C units, and lightings. Did the majority of work myself and spent $2,800 in total, including landlord insurance and cleaning services. Also hired a property manager as I live 45 minutes away from Baltimore City. We received our first application within 3 days on the market and the tenant has moved in last night at $1,250/month until October 2020! This is beyond exciting and has boosted my confidence to continue investing in real estate. A big thank you to the BiggerPockets community for all the valuable advice. If you would like to see photos of the rehabilitation, have any questions, or would like some tips from an amateur, let me know! :)

Best,

Ethan

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  • Corpus Christi, TX · Member since 2018 · 38 posts · 31 votes
    7y

    Great job! That is very inspiring to those of us who are just starting out. Keep up the great work and thank you very much for sharing. 

  • Rental Property Investor · Racine, WI · Member since 2019 · 18 posts · 20 votes
    7y

    Congrats and I love to here this kind of stuff it is so encouraging and yes I would love to see pictures as I am in the process of fixing up a rental.

  • Flipper/Rehabber · Auburn, AL · Member since 2015 · 53 posts · 15 votes
    6y

    @Ethan Kramer congratulations- that's great news. What avenue did you find most successful when posting your property for rent (Facebook, zillow, craigslist, etc)?

  • Rental Property Investor · Member since 2018 · 483 posts · 956 votes
    6y

    Congratulations! First one is always a exciting time.  Now go get the next one. 

  • Rental Property Investor · Cleveland, OH · Member since 2019 · 150 posts · 47 votes
    6y

    @Ethan Kramer Great Job man keep it up , I can’t to get my 1st one going .

  • Gaithersburg, MD · Member since 2016 · 2 posts · 0 votes
    6y

    Hey Ethan, How is your experience so far with Morrell Park? It has been 8 months since your post about your first purchase. I am looking at 2br / 1ba over there

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