House under contract

5 Replies

Hi @Chris Bisaillon,

It's great that you have gotten started. Many individuals want to invest in real estate but they never find the confidence to actually get started. I'm assuming you analyzed the property before sending an offer; what is your intended strategy for buying the 3 plex? Are you using the BRRRR, fix and flip, or house hacking strategy for this property? Definitely keep the BP community in the loop on how this deal turns out. I'm excited for you!

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Originally posted by @Nathan Roberts:

Hi @Chris Bisaillon,

It's great that you have gotten started. Many individuals want to invest in real estate but they never find the confidence to actually get started. I'm assuming you analyzed the property before sending an offer; what is your intended strategy for buying the 3 plex? Are you using the BRRRR, fix and flip, or house hacking strategy for this property? Definitely keep the BP community in the loop on how this deal turns out. I'm excited for you!

Thanks I knew I just had to get my first deal under my belt. My intention is to buy & hold the  property. I want to collect some passive income and work on my next deal.

@Chris Bisaillon

After that you will fall in-love with real estate and theres no way back, I remember when I placed my first offer my hands were shaking, it is an exciting moment!

@Chris Bisaillon if you have the resources to purchase additional properties thats great. It will take years of passive income to save for a downpayment on another house. Buying this property may be a way to slightly increase the capital you potentially already have saved. Your contracting experience can be an opportunity to add sweat equity. Also, rental properties are less volatile to market changes than fix and flip properties. This will allow your investment to remain safe assuming everything else is good. 

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