#20 rental was purchased today
just closed on #20 today. it's a milestone since one time we thought we'd stop "when we hit 20", and "can u imagine having TWENTY houses?"
i need a new goal and at this point it's 35, when i think i will stop working and just stay home. will i get there? who knows. will i be upset if we dont? not that upset.
anyway, here are the details:
asking - 67, then reduced to 58.
purchased - 51k
sq. ft - 956
3 bed/ 1.5 bath
no garage - a shed is present
updates - ~12k with the driveway, which needs to be replaced.
rent - $1,050 estimate when it's all done.
my concrete guy wants to buy it on a land contract, so not sure what will happen at this point.
Agreed @Arlan Potter:
I'm only at 1 rental but my hopes and dreams are unlimited. Working on the plan to do so but the thrill for me has always been the hunt (I have dealt in classic autos for years)
Congrats! I'm at 6 and can't wait to be at 20!
wow.. hopefully I can do that one day!!
Thanks @George P.
We will continue to follow your growth and we wish you the best for 2016.
From Nancy
Congratulations
Hey @George P. Thanks for sharing. Sounds like prices paid and potential rents are pretty similar between Louisville Ky and Livonia Michigan. I'm at 7 units now and looking to pick up a couple more in the next few months if I can find the right deals. How long did it take you to get to 20?
Originally posted by @Dan Close:
Hey @George P. Thanks for sharing. Sounds like prices paid and potential rents are pretty similar between Louisville Ky and Livonia Michigan. I'm at 7 units now and looking to pick up a couple more in the next few months if I can find the right deals. How long did it take you to get to 20?
hey dan, this thread is from about a year ago. it took about 5 yrs to get to 20. i am actually up to 34 at the moment. here's the latest thread - https://www.biggerpockets.com/forums/223/topics/38...
buy while you can. buy and hold is the way to go.
👏👏👏👏👏👏 congratulations!