Brooklyn, NY · Member since 2015 · 84 posts · 94 votes
When I learned earlier this year that I was pregnant with my second child I considered putting off my goal (AGAIN!) of buying my first property. Where would I find the time? My W-2 job had me working 60-80 hrs/wk and I already had a two year old to chase around in my "free" time. I'm so glad I didn't let these excuses stop me from continuing to educate myself on REI, analyzing deals and finally pulling the trigger because today my son turns one month old AND I just got the keys to my first property!
The property is set of fully occupied duplexes located in Abilene, TX. Each unit is a 2bd/1ba. I'm thrilled to have my first deal under my belt!
Congrats & your due diligence is super impressive! I also choose to buy in Texas & live in Colorado. Also major props for digging into the details of the university. My best rentals are located near universities with on campus housing vs population issues.
That is an awesome success story with great numbers to match! Very close to that sought after 2%! I really like the facetime-viewing idea as well, I'm going to keep that in mind.
I'm also very interested in Texas, and you've reinforced the need to build a strong network in my market of choice! I may have some questions for you along the way.
Philadelphia, PA · Member since 2015 · 19 posts · 4 votes
10y
Oh man this is exactly what I needed to hear! Congrats!
I've been looking at properties and crunching numbers but I'm held back by fear: do I even know the numbers, the market, the neighborhood, etc... Can't wait to start saving up to do my first "real" deal.
My sister and I currently own a twin that has been converted into a duplex and she lives in one unit and we rent out the other. It would be positive income but since it's my sister and she is the one doing the maintenance and we're still trying to sort out "being landlords" so actual positive income yet.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
10y
I don't post often but I happened to come to the site today, this was the top post, so I checked it out.
CONGRATULATIONS!
I'm asked often "how can I get started" and I always say the same thing "Get started". You can read sites like this, read books, talk to people, etc. but at some point you have to pull the trigger and GET something.
Which is what you did! Way to go. It'll be the first of many. Closing on the fist is hard. The rest become very very easy.
Paralegal · Austin, TX · Member since 2015 · 44 posts · 11 votes
10y
Thanks for posting your story and congratulations! I just started learning and this is really inspiring. May I ask when you started educating yourself about this stuff? I know everybody will approach it differently, but I'm wondering what sort of timeline makes sense. I see a lot of references to "analysis paralysis," but it's hard to imagine getting to that point because I'm still just so ignorant.
Developer · Provo, UT · Member since 2015 · 141 posts · 89 votes
10y
@Okeoma M. Congratulations. If you're willing to live like no-one else and sacrifice with an end goal in life (not just money, but people-time-service-things of value beyond money) you'll create a life for your family that will be a force for good and happiness. All the best! Enjoy those beautiful kids. I have 5 children 10 and under and they are a wonderful motivation to provide a great lifestyle for!
Novato, CA · Member since 2015 · 9 posts · 3 votes
10y
Congrats @Okeoma M.! My wife and I are looking to purchase our first investment property as well, and we just had our second child too. Thanks sharing the story and for giving some inspiration!
New Castle, DE · Member since 2015 · 1 post · 0 votes
10y
Congrats!!! Having two children myself and working full time I know for sure it could not have been easy. I am just starting out and trying to find my way. Your post definitely gave me a great deal of motivation that it can be done. Hope everything continues to go well for you.
I have to say this is inspiring. Even with your busy schedule, you used every tool and opportunity available to you to make it happen! So I want to say "congratulations " and I wish you many more deals in the future.
Investor · Knoxville, TN · Member since 2015 · 26 posts · 10 votes
10y
@Okeoma M.@Gino BarbaroThis is such an inspiring post. You've touched on such and important issue. I hear so many people complain about their situation or lack of time. Bottom line - if its important enough you find a way to get it done. Great job!