I just want to thank @Joshua Dorkin for all his work at BP and acknowledge what I'm sure is a growing list of BP success stories.
Frank O. found me here on the site and interviewed me to be his Rochester REALTOR® over some good brews at the Owl House. We hit it off instantly and have been growing our friendship since.
Please give Frank a round of applause on his first real estate investment! He has closed the deal after seeing the property for the first time during the final walk through moments before handing over certified funds.
We're both confident he locked in a good amount of equity with the purchase. It sold the day it was listed, before a sign ever went into the yard. There was another investor offer and we were working late into the night while Frank was traveling, but his excellent investing foresight prevailed.
He's looking forward to putting a little sweat equity in this weekend, and I'm excited to see the transformation.
Way to go Frank!
Mark in ROC
Thank you for all the kind words. I couldn't have taken it down without you and your willingness to drive over there in the middle of the night and be my eyes on the ground. You've given me so much good advise.
I posted alittle bit about the investment here.
The numbers are still evolving in my favor but it is still a great first deal. One down, many more to go!
Great job guys!
As a new investor in the NYC area, this story makes me very happy! Great job.
Congrats @Mark Updegraff and Frank O.!
Frank - Why did you decide to do deals in upstate NY as opposed to your local area (I have ties to both areas, so just curious)?
I had gone to school in Rochester for 5 years and was comfortable with the city layout, neighborhoods, colleges, etc. I knew it was a great rental market (60% rental in the city as opposed to 40% owner occupied) and despite the population trends and Kodak I knew from living there that there was still economic development and growth.
Honestly I didn't look at my local market (Baltimore) too closely. The city has redeeming qualities but never really captured me. DC and the Maryland suburbs were just too expensive to start in.
Congrats guys! Thanks for sharing the story Mark! We always love hearing how people are succeeding thanks to BP!
Good job! This story also gives me hope, as I am an investor in Rochester as well.
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