Real Estate Investor · Mount Vernon, MO · Member since 2013 · 4 posts · 0 votes
Hello BP community! Thank you all for the information you have bestowed on me and my wife recently. We have ventured into the buy and hold investing with our first SFR last November.
Going through terrible negotiations with the bank that held the property, finally closing, rehabbing (on our own), finding our first tenant, replacing sewer lines, and a leaking main waterline have created quite the first time landlord experience. But since that first month everything has been going great, rent payments are being ACH deposited every month on time, tenant has had no complaints, and the house seems to be holding together.
As many have said on the podcasts, perseverance and following through until you met your goal, has been the best advice so far.
I look forward to meeting some local entrepreneurs in my area. Send me a message.
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Hey @Drew L. welcome to the site! I'm really glad you're taking note of the lessons in the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.
Real Estate Investor · Verona, MO · Member since 2008 · 36 posts · 6 votes
12y
Drew
I am just10 miles south of you. Aurora, Verona, Monett, Pierce city. Perhaps we could link up sometime. So what bank gave you trouble. The bank I use in Mt. Vernon made a loan to me on a property in Salem MO about 164 miles away. Of course I have dealt with them for a while.
What a great learning experience on your first rental. All you do now is keep learning while you rinse and repeat! Can't wait to hear about the next one, keep us updated :)
Real Estate Investor · Mount Vernon, MO · Member since 2013 · 4 posts · 0 votes
12y
@mike Haynes. It was the bank that owned the property that made the trouble. It was one of the BIG banks so their red tape was awful. One example, we had to resubmit all the paper work after they accepted the offer because we put Ave. Instead of avenue.