So I Finally Landed One!

[Mark Smith]

I began learning about REI in the fall here on BP. I jumped into the forums, picked up a bunch of books, and started to look at listings to familiarize myself with how it all worked.

Fast forward to this past Friday and I closed on my first deal!  I purchased a two family home, the first floor is occupied and the second floor is vacant.  The first floor tenant has only been there for a few months of the lease and she seems great.  I am making trips to Lowe's so I can get the second floor looking nice, and I'm hoping to have that rented out in July.  The first floor rent is enough to cover the mortgage; all said and done I should average about $430/month cash flow once the second floor is rented.

I'm looking forward to learning how everything works as I go.  And I'm really looking forward to property #2.  I just have to figure out how I'll raise the funds!

So many people here have offered me great advice, and I'm incredibly thankful for that.  I am really happy to be off and running!