Sharing my rookie real estate journey

Sharing my rookie real estate journey

Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes

Welcome to my real estate journey! I  am a single mom have a full time job as a plan builder for the health  Insurance industry I was introduced to real estate investing by my dad who had asked me to help renovate his Philadelphia rental.  He had rented through section 8 for over 10 years and the city never raised his rents?! So we decided it needed major updating to attract more renters. I was super excited to jump in since HGTV prepared me for this right?! We started our demo and design and I quickly realized that creating a space for a family to call home was super fun and rewarding! The end result was better than we imagined! We got new renters and increased our monthly rents by over $300!

This gave me the boost and nudge I needed to to ahead and find another rental! I started listening to several people on YouTube and Bigger Pockets while attending my local Real Estate meet-ups. I learned so much from all these FREE resources! Which gave me the tools to figure out our next move. Since my father owned the Philly rental free and clear we did a cash out refinance- thank you David Greene for the BRRRR method! We took the cash out to put down on another property and had some money left over for renovations!

This 2nd rental was in the suburbs of Philly I found this home through the MLS as a foreclosure so I got it for a good deal! While attending my local REI meet up I also meant my private lender who funded my whole deal! I was blown away that someone whom I had just gotten to know for a short amount of time believed in me and was willing to take a chance on helping me achieve my goal! Frank Yang is awesome, he generally wants to help people.

As a fairly new investor I made my share of mistakes such as getting scammed by a phony private lender who asked for money up front and gave nothing in return secondly finding a good contractor that actually shows up was another huge task! Lessons learned for sure! If I did not make a choice to take the chance to make a change in my life I would not be on my road to financial freedom through real estate. 

Thanks to my Dad, my partner Keith and my mastermind group for the support!  I hope to inspire others to make the mental switch, to think positive, if you believe the mind and body will follow.

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Investor · Philadelphia · Member since 2020 · 112 posts · 150 votes
6y

@Matsa Sundara What an inspiring story! Thanks for sharing! I’m investing in the Philly area as well. I love hearing these success stories. And as always, the story’s not over. Keep it going strong!

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  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 979 votes
    6y

    Congratulations Matsa!

    Good luck on your next deal. 

    Hampton Tax and Financial Services LLC4.7106 Reviews
  • Investor · Philadelphia · Member since 2020 · 112 posts · 150 votes
    6y

    @Matsa Sundara What an inspiring story! Thanks for sharing! I’m investing in the Philly area as well. I love hearing these success stories. And as always, the story’s not over. Keep it going strong!

  • Real Estate Consultant · Philadelphia, PA · Member since 2020 · 41 posts · 23 votes
    6y

    Congrats @Matsa Sundara! It takes a lot of courage to jump into real estate and I applaud you for diving right in. Many Philly houses require cosmetic updates because they are just flat out old. It is common that you had those experiences with the 'scammer' or an unreliable contractor, but as you move forward you will be able to better pre-qualify individuals that you potentially do business with. Good luck on your real estate journey and if there is anything that I can help with, feel free to connect off-forum!

  • Rental Property Investor · Philadelphia, PA · Member since 2016 · 63 posts · 58 votes
    6y

    @Matsa Sundara

    Great story! I think HGTV has inspired a lot of us women investors, even though my real life experience never goes as smoothly as tv.

    Hope you keep BRRRRing and getting more properties!

  • Investor · Staten Island, NY · Member since 2020 · 20 posts · 12 votes
    6y

    @Matsa Sundara

    Great story! Currently shopping the philly market and finding a contractor is certainly Tough! Any recommendations for REI meetups?

  • Real Estate Consultant · Drexel Hill, PA · Member since 2020 · 10 posts · 6 votes
    6y

    @Matsa Sundara Congratulations on all your success! The biggest thing is getting in the right mind set, having a positive attitude, and just GOING FOR IT! I applaud you on overcoming the obstacles, but that's the best way to learn. I am currently investing in the Philly area also and love hearing these stories from the City of Brotherly Love.

    Keep up the great work!
     

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Bill Hampton:

    Congratulations Matsa!

    Good luck on your next deal. 

    Thank you so much!

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @David Haynes:

    @Matsa Sundara What an inspiring story! Thanks for sharing! I’m investing in the Philly area as well. I love hearing these success stories. And as always, the story’s not over. Keep it going strong!

    Absolutely true. the story continues!

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Cory Ohl:

    @Matsa Sundara Congratulations on all your success! The biggest thing is getting in the right mind set, having a positive attitude, and just GOING FOR IT! I applaud you on overcoming the obstacles, but that's the best way to learn. I am currently investing in the Philly area also and love hearing these stories from the City of Brotherly Love.

    Keep up the great work!
     

    Thank you so much! Learning as I go! What areas in Philly do you feel is best for buy and holds?

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Jhanel Wilson:

    @Matsa Sundara

    Great story! I think HGTV has inspired a lot of us women investors, even though my real life experience never goes as smoothly as tv.

    Hope you keep BRRRRing and getting more properties!

    HGTV is definitely not my reality Lol but I enjoy being hands on! 

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Francis Nguyen:

    Congrats @Matsa Sundara! It takes a lot of courage to jump into real estate and I applaud you for diving right in. Many Philly houses require cosmetic updates because they are just flat out old. It is common that you had those experiences with the 'scammer' or an unreliable contractor, but as you move forward you will be able to better pre-qualify individuals that you potentially do business with. Good luck on your real estate journey and if there is anything that I can help with, feel free to connect off-forum!

    Thank you! Would love to connect off forum!

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Michael Marrero:

    @Matsa Sundara

    Great story! Currently shopping the philly market and finding a contractor is certainly Tough! Any recommendations for REI meetups?

    There are alot in Philadelphia, I've heard several people attend Nick Tangs meet up. I've not personally attended due to city parking! 

  • Investor · Staten Island, NY · Member since 2020 · 20 posts · 12 votes
    6y

    @Matsa Sundara

    Thanks for the recommendation. I’m coming from nyc so it’s tough with scheduling. Most seem to be virtual with the current events so that’s helpful.

  • Investor · San Diego, CA · Member since 2016 · 351 posts · 141 votes
    6y

    @Matsa Sundara Congrats job well done! It's INSANE how many free resources are out there. Sometimes I wish I had a super power where I didn't have to sleep and could just crank out late night learning into the wee hours of the night. Nice work on your rental!

  • New to Real Estate · Billings, MT · Member since 2020 · 7 posts · 1 vote
    6y

    @Matsa Sundara thanks for sharing!

  • Detroit · Member since 2019 · 62 posts · 12 votes
    6y

    @Matsa Sundara wow great story! More success to come for you

  • Investor · Montgomery County, PA · Member since 2020 · 255 posts · 238 votes
    6y

    Congratulations on your journey @Matsa Sundara! You're lucky to have excellent family resources to help along the way. In terms of which areas to look for attractive appreciation in the city, you'll have luck almost anywhere in the Northeast, North and West Philadelphia. Further luck to you in your Philly endeavors!

  • Rental Property Investor · Rochester, NY · Member since 2013 · 162 posts · 127 votes
    6y

    @Matsa Sundara

    This is super great story you share about your journey and experience. Although I’m an experienced real estate investor, I always learn something new. I wishes you and your family the best as you continue your real estate journey

    Alex

  • Real Estate Consultant · Drexel Hill, PA · Member since 2020 · 10 posts · 6 votes
    6y

    @Matsa Sundara From my experience the best spot for buy and holds are typically in the lower end areas like West Philly, North Philly, Strawberry Mansion, etc. These are areas you can purchase at lower price points and can charge in the $1000 range for rent.

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Brandon Cook:

    @Matsa Sundara thanks for sharing!

    I'm happy to! We can all learn and grow from our experiences. 

  • Rental Property Investor · Pottstown, PA · Member since 2019 · 15 posts · 28 votes
    6y
    Originally posted by @Alex Uman:

    Congratulations on your journey @Matsa Sundara! You're lucky to have excellent family resources to help along the way. In terms of which areas to look for attractive appreciation in the city, you'll have luck almost anywhere in the Northeast, North and West Philadelphia. Further luck to you in your Philly endeavors!

    Thank you for the tips, much appreciated 🙏  Very blessed to have the right people by my side. Best of luck to you aswell!

  • New to Real Estate · Birmingham, AL · Member since 2020 · 3 posts · 0 votes
    6y

    @Matsa Sundara thanks for your story this was a motivational post!

  • Member since 2020 · 2 posts · 1 vote
    6y

    Congrats! 


    The no show contractor is all too common. How extensive was your remodel?

  • Wholesaler · ….. · Member since 2016 · 43 posts · 13 votes
    6y

    @Matsa Sundara wow that is great . Here in jersey if looking to network .. welcome 💪🏽

  • Rental Property Investor · Charlotte, NC · Member since 2017 · 12 posts · 15 votes
    6y

    @Matsa Sundara

    Thanks for sharing your story! I am getting started as we speak and will renovate my mom’s house with her and turn it into our first rental. It’s sometimes hard to find the courage to get started but your story is inspiring. Just get started with what you have and learn along the way!

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