Updated over 13 years ago on . Most recent reply
Current property under contract, About to begin my first REAL investment property!
Alright guys, I just got my current property under contract today and I starting my first real investment property the end of this month!
I sold my current property for a considerable amount less than projected, due to a harsh learning experience and a vicious lesson of location, location, location. It is located on a major street and even though this was a prime area, it killed the price. We started out at 139k and signed an APA at 123k. Lesson learned.
This next property on the other hand, is going to be home run. We purchased it at auction for a steal of 47k with an ARV of 130-135k with a renovation cost of around 20k.
What advise can you give a newbie to make this debut property a huge success?