Did you get your first deal in the last year? LET US KNOW!

3 Replies

Hello BP folks!

Hope everyone is having a fantastic start to their 2018, my name is Cory I am an aspiring REI looking to take that jump and get my first investment property.

I'm sure there are others like me, that are great at finding ANY excuse to not jump on their first deal.  

"I can't afford it",  "The market's too hot", "I'm scared", "I don't have enough time", "My wife/husband/dog would kill me!".

I have been doing a ton of research and it seems like the more I know, the more I realize I don't know, and this at times can get pretty depressing! On top of that I am Canadian (eh), so that adds another layer to the difficulty in getting started in the States (poor me, I know)

Now, if there are any of you out there that have gone through this process, and have managed to get their first deal in the past year, I would love to hear about it!  Could give us newbies still searching for our first deal some motivation to take ACTION.  

If you could include where/what you bought, and some numbers so we could do some mock analyses, that would be greatly beneficial.  

Thanks guys, and can't wait to hear some of the responses!

@Cory Graham I’ll give it a whirl. I put my first property under contract in April of 2017. That one closed in August of 2017.

Bought my second one in September of 2017 and third in January of 2018. All single family homes. Two in Memphis and one In Cleveland. I live on the east coast.

Next purchase should be this summer. After that my goal will be 3 more by end of 2019.

Originally posted by @Caleb Heimsoth :

Cory Graham I’ll give it a whirl. I put my first property under contract in April of 2017. That one closed in August of 2017.

Bought my second one in September of 2017 and third in January of 2018. All single family homes. Two in Memphis and one In Cleveland. I live on the east coast.

Next purchase should be this summer. After that my goal will be 3 more by end of 2019.

 Right on Caleb, 

And how did you get yourself over that first hump?  I find myself doing all this research and then when I start going out and contacting REA's, or going around and actually putting theory into practice it becomes quite overwhelming. 

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