Well it's official... Just closed on our first two rentals!

42 Replies

Go big or go home right? A contact off of our DM campaign brought us a package deal that was almost buy one get one free on a turnkey property. We paid 46k for two homes. Rental income will be right at 700.00 a month cashflow after counting for expenses. We've got showing set up for this weekend. Time to screen some tenants! Man it feels good to be a "landlord". 

Awesome and congrats, man! Bet it feels great. I should be closing my first wholesale deal the Friday before Christmas (have to wait for the completion of a Quiet Title suit). May possibly be able to close on a turnkey rental of my own before then, though. It'll cash-flow about $200/mo for me. :)

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@Jim Viens  that is fantastic! We completed our first wholesale earlier this year which is actually what funded the majority of the down payment for these homes. 

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Congrats.  Warning it is contagious!  I just closed on my fifth yesterday.  Looked over it better this afternoon and I think I will get out with about $2000 in refurb on it instead of the $5000 I was thinking about.  Should have it done much quicker than expected and my be able to start showing it in a couple weeks.

@Ryan Dossey  

 That is so awesome!  I remember converting a home from my primary to a rental over 20 years ago!  That was my first rental experience of someone else making my payment for me.  It sounds like you got a great deal :-)

Originally posted by @Ryan Dossey :

Go big or go home right? A contact off of our DM campaign brought us a package deal that was almost buy one get one free on a turnkey property. We paid 46k for two homes. Rental income will be right at 700.00 a month cashflow after counting for expenses. We've got showing set up for this weekend. Time to screen some tenants! Man it feels good to be a "landlord". 

 Congrats!

We were just by Chesterfield, MO. Good to see another local winning.

This must be Missouri week or something... everybody is finding deals.