Excited rookie from Atlanta!
Hey everyone! I joined biggerpockets because I've heard such great things. I also had so much fun reading the success stories and finding people doing exactly what I want to be doing: living financially free from buy-n-hold rental properties. Awesome!
I am right on the cusp of purchasing my first rental property. I have been seeing houses with agents sparingly for the last few months to gain experience assessing repairs. I made quite a few low-ball offers, but really I just wanted to get some experience seeing places while I saved up the money for a down-payment. I didn't do it much so that I wouldn't get a nasty reputation amongst the agents.
Now that I have saved up enough money, I am ready to make more serious offers. My goal for 2014 is to have one profitable rental property with these stats:
1. < $20k down-payment and fees
2. < $20k repairs/renovations
3. < $30k all-in, initial investment
4. > $200 monthly net operating income (after PITI and maintenance)
In the end, I want to be financially free, which, to me, means $2000 monthly income.
I am part of a local REIA, and it's been great meeting friends and investors there.