#20 rental property closed!!

10 Replies

Bought #20 today guys!  Was a newbie on this forum and bought my first 1 back in 2012. 

3/1 in Dearborn Heights Michigan. In the general area of Redford , Westland , Livonia , Garden City. Brick house with a basement/garage. Was a very unique deal where I bought owner out of a land contract and am going to rent back to him. $45k purchase price rent is $1,350. Very good numbers I know. The unique/ messy off market deals are where the most opportunity is in this business. Networking/marketing is everything.

The snowball effect is kicking in and have been acquiring rentals quicker this past year. Have closed on 8 this calendar year. Been using the BRRRR method as of late. Already set to close on my next one in a few weeks.

@Keith Jourdan

That is amazing progress and truly inspirational. Congrats on #20! 

I am in the same Dearborn/Dearborn Heights area and am where you are at 2012.

Hoping to close on my first property within the next two months!

Glad to know someone out in my area is doing it and working hard, thanks for sharing!

Keep going. I can imagine the adrenaline rush you wake up w/ every morning.

Way to go @Keith Jourdan ! Those numbers are awesome. Plus, seems like you won't have to put any money into reno since the owner is used to what he's living in already. Best scenario there is. Totally agree about finding the unique/messy off market deals. That's my approach too. 

You've got me pumped to go get more. I'll be closing on 4 units in Ann Arbor some time in November, but I've gotta bit of work to do if I'm gonna catch up to you.

Originally posted by @Joshua Birk :

Way to go @Keith Jourdan! Those numbers are awesome. Plus, seems like you won't have to put any money into reno since the owner is used to what he's living in already. Best scenario there is. Totally agree about finding the unique/messy off market deals. That's my approach too. 

You've got me pumped to go get more. I'll be closing on 4 units in Ann Arbor some time in November, but I've gotta bit of work to do if I'm gonna catch up to you.

 Thanks Josh , looking forward to hearing about your future deals !

Congrats Keith and keep up the good work!

Congrats I'm hoping to follow on a similar path using the BRRRR strategy as well.

If only we had deals around here with numbers like those!  Keep killing it!

Congratulations! Now I feel like moving to Michigan. Well done.

@Keith Jourdan ,

Congrats on #20!!   8 in 1 year is very impressive!!  

Keep up the good work, and keep us posted!  Feel free to post before/after of the rehabs too,  I love seeing pictures of other's success! :) 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.