Finally closing on my first deal!
I’ve been wanting to invest for about 5 years. In that time we’ve had two more kids. I’ve changed job locations twice (commuted, didn’t change homes). I bought a plane to help with the commute (since sold it). What finally got me to get off my tail was COVID. My job isn’t as secure as I thought. Our savings account(s) aren’t doing anything for us. My stock market investing is lackluster. So, while sitting at home raising 4 kids instead of working (don’t worry, job kept paying me thanks to all tax payers by way of the Federal Government) I started listing to audio books while driving for DoorDash. I made a financial statement for my wife. I showed her what we had and what that money was doing. It didn’t take long for her to see the same thing as me...our money wasn’t doing anything for us. So, she approved moving into real estate.
I tried to look local but the taxes are just too high. I went on http://roofstock.com and found a place. I put in a bid and didn't get the place. But, it showed me an area I could invest in and make money. I took the advice in the books and started asking for referrals. A few days later I found a rock star real estate agent. I think I have a great PM lined up (won't know until she's put to the test with my property but phone calls and emails are all positive). I've found a contractor that says the right things (again won't know until the rehab is done). The last person in my team will be the loan officer and I have a couple of companies that may work (It's a BRRRR). I have a pre-approval letter so I could make sure I was as credit worthy as I thought.
Hoping this is the first of many real estate deals as I secure my financial future. Just 7 days until closing!