2nd deal closed today

9 Replies

Hello all,

I just closed today on my 2nd property (now 3 doors with hoop dreams of many, many more)....

Very small 1 bed 1 bath house (cottage?) up in Butte Montana. Up on the hill- in an area that's seeing improvements. Very close to a paved biking path (we call it a "greenbelt" down here in Boise). Basically this biking path goes to/thru the College there and should be a great renting/selling point.

This was bank owned- had buy it at $25k cash, as there was another potential buyer on the line... A few minor improvements and I'm hoping to get $500-$600 gross monthly rent(that may be high, we'll see)...

Anyhoo- thanks to everyone here at BiggerPockets- I've learned a bunch and am still learning a bunch from all here....

-upward and onward!-

thanks!

Jimmy

Congratulations! How did you find out about the property?

Congrats! What a rush, huh?

That is awesome Jim! Keep up the good work!

Great news Jimmy! I wish we found more $25k houses around Boise. Way to go!

Thanks all, it wouldn't be possible without a lot of 'learnin' here.

@Patrick Martinez - I subscribe to Realty Watcher, which gives me an email update of whats on the MLS every morning in my Inbox. That, and @Jonna Weber - has been very, very helpful with general information/Boise area MLS, etc... I haven't found the "perfect" property here in the Boise area yet, but Jonna and I have been searching quite a bit. I have very strict buying criteria- and I am passing on some deals that are good deals- but we'll get there...

It is true what they say about increasing your odds of success by working with good people... I luckily found a great realtor in Butte this time, so I'm luckily starting to amass a "team" of great people. A couple hiccups here and there---- but things are progressing very nicely!

thanks,

Jimmy

@Jim P. - Thank you for the mention! We will find it when the deal is right!

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