Updated over 10 years ago on . Most recent reply
My first investment property!
It's taken almost a year but this Friday I finally close on my first investment property in Tempe, AZ!
I'll be using the BRRRR method as I look to take 6-8 weeks to rehab the entire home on my own. I've been gearing up to hit the ground running and simply can't wait!
Obviously I have a budget but working in commercial construction and utilizing craigslist I'm hoping to come significantly under budget with hook ups from subcontractors or good deals so I can apply funds to additional scope.
Once rehab is complete I'll get out of my current loan and refi the total asset (initial purchase plus all capital invested). I'll have instant equity and will begin my search for a new distressed primary property.
Wish me luck and I'll keep you posted on progress.
Most Popular Reply
Congratulations! You have demonstrated your ability to take action coupled with the fact that you have a plan that's ready for implementation, but, simply waiting for the ink to dry on the signatures this Friday.
The BP community is extremely happy to celebrate this accomplishment with you. Keep us posted as promised and we wish you lots of success in your future REI endeavors.