My first success?

Question

OK. I'm not sure if this really counts as a real success story.  I just signed paperwork to sell my house, which I bought 10 years ago with the intention of renting out the second bedroom, gradually rehabbing and selling when the value got up to $100k. Check, check, and check.  I'm jokingly calling it my 10-year flip. Closing is at the end of the month.  Now my somewhat dormant interest in RE investing is back with a vengeance, fueled with an influx with a few tens of thousands of dollars, I've been reading like crazy, attending local REIA meetings and researching the market in my area. Time to get out and find a new place to live and my first "real" investment property.

Patrick Smith · Answer

@Jeremy Hunter, I'm toying with a few different options.  Ultimately I'm looking for my first of several buy and hold rentals.  I'm debating whether to buy one or 2 Condos/Townhouses/small SFHs, or a larger SFH or maybe even a Duplex, and probably in any case I would do some house hacking to give me more saving power (My current roommate pays $100 less than my mortgage/escrow payment.  Hard to find somewhere to live for $100).  My other thought is to rent something for the time being while I continue my education and save up while I learn how to find and look for deals.  Fortunately I worked out a deal with the buyers to stay in the house for up to 2 months after closing, so I have time to search and explore my options!

Mike Dymski · Answer

Nice stuff...personal residence; so, it's tax free too.

Mark Brogan · Answer

Congrats @Patrick Smith now on to the next one

Good luck

Jeremy Hunter · Answer

Glad your fire has been stoked again in regards to real estate investing! What is it that you are looking to make happen in regards to investment property? There are a few options open to you at this moment it seems like with the sell of your first property. And congrats on the sale of your property! It should be the beginning to a start in what is to come! Good luck in your ventures!! Keep in touch!