How did you get your first deal?

[Stephanie Pieri]

Hi everyone! So how did you get into your first real estate deal? I am looking for guidance and inspiration to get my first deal very soon. Tips welcomed!

[Nathan Gesner]

I saved up money and told my father-in-law (a REALTOR) I wanted to buy an investment property. He told me about a home that was on the market in my price range. He used to own it and got a good return from it. I bought it without looking at it, crunching numbers, or anything. It was a complete rookie purchase and I can tell you a dozen mistakes we made.

Long story short, I put $6,700 down and eight years later I sold it for over $70,000 in profit. Then there were the tax benefits, a few vacations paid for from the reserve fund, etc.