Closed On My First Deal!!

Closed On My First Deal!!

Dallas, TX · Member since 2018 · 43 posts · 54 votes
Just closed on my first Duplex in Fort Worth, Texas! Being a novice to the REI world. I wanted to tell how much of a God send the Bigger Pockets Team and The Members within have been for me. With the tools, educational forums, videos, and advice from the good hearted people of Bigger Pockets, I've been able to lock in my first rental within 6 months! My advice to New Members is to immerse yourself in the amazing educational material provided via Bigger Pockets. Reach out to members even to say "Hi" or "Thanks". You never know who can give you that motivation or piece of advice that takes you to your first deal and beyond. Big shout outs to #Ryan Blake #Patrick Hermans #Solomon F. #Sebatian Kressley #Paul Moore #Matt Faircloth, the Bigger Pockets team and anyone else that I may have missed. Thanks for the guidance no matter how small or big it may have been! Best Regards - Jason Toledo
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Ryan BlakePro Member
Lender · TX · Member since 2018 · 936 posts · 713 votes
7y

Guys, you need to know how hard this guy has worked. If you just dedicate yourself to following through, you can make it happen. @Jason Toledo and I were on the phone last night talking over a very high dollar deal that has come his way. It may not be a go (still doing due diligence) but know that once you take the step, it can snowball.

MY ADVICE: 

1) Learn as much as possible. In the car, have a pod cast on. At home watch youtube videos, read books, browse forums. Out with friends and co-workers, tell them what you are looking to do (they may end up connecting you with someone to help you or even bring you a deal).

2) Surround yourself with people who are willing to give you good advice. Then double and triple check the advice you get.

3) Take the first step even if you are a little unsure. It will be a great learning lesson.

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  • Andrew FidlerBusiness Member
    Real Estate Broker · Toledo, OH · Member since 2011 · 384 posts · 434 votes
    7y

    Great news Jason, let us know how the investment performs and reach out to the community as you need advice!

    Andrew

  • Accountant · Houston, TX · Member since 2018 · 1 post · 3 votes
    7y
    Hi Jason, Congrats on your first buy! I actually just signed up for Bigger Pockets yesterday and may be moving to Fort Worth from Houston within the next year. I'm still starting off and this would be my first property, so I'm trying to learn as much as I can about the process and the Fort Worth market. If I do end up moving to FE, I'd be interested in connecting with you since it seems like you are at the early stages of RE investing as well. @Jason Toledo
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Jesus Badillo Jesus Definitely. Anything I can do to help. There a lot of local guys and gals on here that I'd recommend following as well. @Ryan Blake @Solomon F.
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Andrew Fidler Thank you, I most definitely will!
  • Specialist · Dallas, TX · Member since 2017 · 368 posts · 102 votes
    7y

    @Jason Toledo, 

    Awesome work my man. Keep taking them down piece by piece!

  • Member since 2018 · 15 posts · 8 votes
    7y

    Congrats on your 1st purchase. From a tax standpoint this is one of the best times to invest in real estate. I am all for forming LLC's for liability purposes. Keep your head high and realize everybody makes mistakes along the investor journey. Always try to get better tenants even if the rent is a drop cheaper. Feel free to reach out to the pros here for tax and legal advice and business advice. With experience you will learn the "snuff" test is more important than credit checks. 4 places rented in 3 years in same area-hmmm why-best of luck!

  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y

    @Account Closed The only way to do it haha!! Thank You!

  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y

    @Eli Ren Thank you for the great advice!

  • Member since 2018 · 15 posts · 8 votes
    7y

    Best of Luck! I am sure you will do great. Do your homework on property, area, down to the block-get to know handymen (unless you are from the few that are lucky enough to know how to fix everything)-when you run your projected numbers just remember to bake in unexpected-hot water tank, leaky roof -don't get frustrated with tenant calls (within reason)-at the end of the day on the 1st of the month you have a recurring income stream

  • Specialist · Fort Collins, CO · Member since 2018 · 557 posts · 191 votes
    7y

    Congrats on your first deal Jason! Looking forward to reading about what happens with this property! 

  • Minneapolis, MN · Member since 2017 · 10 posts · 3 votes
    7y

    Jason,

    This is very inspiring for as I am looking for my first deal in the Minneapolis area of Minnesota. I have also found Bigger Pockets to be an incredible help for me and my growth going forward. Whether it be through the forums, videos, podcasts, or articles. Excited for you and your journey in the REI world. They say the first deal is the hardest one. Best of luck going forward.

  • Specialist · Arlington, TX · Member since 2018 · 18 posts · 7 votes
    7y
    @Jason Toledo Way to go!!!!! I am in the Texas area myself and can't wait to invest in my first deal in 2019.
  • Urbana, IL · Member since 2018 · 6 posts · 1 vote
    7y

    Congrats on your first purchase. I'm hoping in 6 months for my "expected " goal that I gave myself, I'll be closing on a home soon.

  • Member since 2018 · 17 posts · 8 votes
    7y

    Congratulations! Glad to hear that BP is really a big help. 

  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Katie Stewart Thank you! The plan is to increase rents to market rate, so upgrades are on the way!
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Philip Amundson Thank you. It was tasking for sure. I choose to go the FHA route, which a lot of BP members have started with and @Patrick Hermans linked me up with a great Investor Friendly realtor in Dallas (David Acosta), the rest is history. Keep at it, you'll make it happen.
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Glen Parmenter Thank you! I did a lot of reading, watched a ton of REI videos, and asked a lot of questions to some amazing members through here. Just put it in to play. One of the hardest things I've done, but very rewarding once I was handed the keys. Best of luck.
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Reco Gray Thanks! You will, just work hard towards it and it'll happen!
  • Dallas, TX · Member since 2018 · 43 posts · 54 votes
    7y
    @Jason Scurry Definitely, just the access to the vast network of like minded individual's is amazing!
  • Member since 2018 · 6 posts · 3 votes
    7y
    @Jason Toledo Hey Jason congrats on your first property I plan on starting next year myself. Any advise for a newbie comIng in the game? What to do/ not do?
  • Real Estate Agent · Peachtree City, GA · Member since 2017 · 9 posts · 1 vote
    7y
    @Jason Toledo Congrats! Keep the momentum going!
  • Real Estate Agent · Belmar, NJ · Member since 2017 · 370 posts · 200 votes
    7y
    @Jason Toledo Congrats Jason! I wish you lots of luck and success. What’s your next move?
  • Property Manager · Oklahoma city · Member since 2018 · 58 posts · 55 votes
    7y
    @Jason Toledo well done, hang in there each step is a learning process the first one can be the toughest
  • Urbana, IL · Member since 2018 · 42 posts · 7 votes
    7y

    Congrats on your purchase!

  • Real Estate Broker · Minneapolis, MN · Member since 2016 · 530 posts · 398 votes
    7y
    @Jason Toledo congrats! That is actually a market I’ve been recently studying!
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