First REI Deal Alert

156 Replies

Hello BP! Today my offer was accepted for a quad. It’s my first REI deal! All units are tenant occupied and the rents cover my estimated mortgage and maintenance fees and that‘s with me living there rent free! I’m super excited. 😆

that's great! House hacking at its finest. Good luck!

Congratulations on your first property!

Congratulations! I hope to be in your footsteps soon!

@Cason Acor Good luck Cason. It got to a point where I was over analyzing. I was holding myself back. Once I made myself available for opportunity...the deal happened!

Congratulations!  That’s great.  I also hope to be in the same situation someday.    

Since all the units are tenant occupied, what steps do you take to have one of the tenants move out so you can take their place?

@Cody Smith Hi Cody. The current owner must advise the tenants that there is a new owner and provide my contact. I will probably choose the tenant paying the least amount of rent and give them a thirty day notice. I will rent out my current town house as well so I have to prepare for that too.

Well done @Stacey Cook ! I hope to be in your shoes a couple years from now here in South Africa.

Congrats Stacey!  I'm glad it worked out great.   I hope to follow in your footsteps soon.  :)  I am still hunting for my first property.  

@Stacey Cook Comgratulations!!!! Your success is inspiring and is a testament to the power of taking action.
@Stacey Cook . Hello MS. Cook, Just curious about the method of finance you used to structure your deal.
@Stacey Cook Congrats Stacey you are on your way . Some day you’ll look back on this property after you have dozens of doors and say “ wow , what a journey “
@Robert Kelley Absolutely! I’m already thinking about how I can acquire another multi family within six months.

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