My First Purchase!
I did it! I finally made my first purchase and I did good.
Earlier this month I closed on my first property
3bdrm 1bath with a full unfinished basement in a desirable sub-division.
Numbers?
$72,000 Purchase Price
$5,500 Rehab costs
$77,500 All-In Cost
$110,000 ARV
$32,500 Profit (If I Sell)
$950-$1,000/mo (Rent)
Right now the contractor is finishing up, work should be done this weekend.
The house is my profile photo if anyone wants to see it.
Now that I've finally got past fear, being stuck in the "learning phase" and analysis paralysis and all that other stuff that holds us back when we are just getting started, I feel like a lot of doors are going to open up for me now that I have finally made a Purchase and gained some kind of experience. Im very excited to see what happens in the future!