Purchased 1st investment property

8 Replies

I purchased my first investment property last week from a foreclosure auction for $5,500.  After fees and closing costs will have around $9,000 in it. Needs around $7,500 in improvements.  Its 1600 sq ft, 3 Bedroom, 2 Bath and last sold for $35,000!!  Looking forward to my next purchase soon...

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Set to close on the first home on April 19th and already have a potential buyer lined out. Put a bid in on a second home two days ago thru HUD Auction, 4 bedroom house that last sold for $60,000 & after their response to offer it looks like I'll be able to get it for $34,900. It will rent for $1,100+ if I don't flip it instead. Will be bidding on a third home this weekend, 4 bedroom valued at $55,000 that I should be able to get for around $25,000-30,000. Not a bad start!!

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