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". 

Congrats!

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. :)

@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. 

Thanks for all of the support guys! 

Way to go!  That is so exciting.  Screen well and you will love your first year of landlording! :

Way to go Ryan! I like the idea of flipping/wholesaling for chucks of cash to use as down payments for cashflowing properties.

@Jack North  Thanks! We plan on getting into conventional flipping to build funds a little faster. 

We will see how it goes but the plan is to add another two by the end of January. 

That's great! love to read about all the success stories on BP!

Yay!

Now, while you're thinking about it, write down in the file, what this property's "job" is. 

Every investment shoukd be employed.

@Rick H.  These are going to be used to cover part of our Direct Mail budget! 

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.

Congratulation @Ryan D. 2 homes for 46K and $700 cash flow pretty awesome. I look forward to be there 2. :)

See to it that the maintenance on the property is done properly, treat the renters like the customers they are and you will go far in your new career.

Nice Man!!!

@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 :-)

Excellent news!

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.

@Ryan D.  Congrats! You are doing great!

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