Hi BP,

Just wanted to start out on how thankful I am to this site and everyone on it. Last year at this time I would of never guessed that I would be a landlord right now. A little background how this is even possible form me, at this time last year I was working 30 hours a week making $12 an hour. I also had every side job i could possible find which made me close to $2000 a month. I was given a raise to $16 and 40 hours a week at my job and a month ago was raised to $18. I have been living a low key life, all of my friends call me cheap, but its me saving money for things like this.

Around 3 months ago I found bigger pockets, I have listened to around half the podcast and all of the buy and hold investor podcast. This is mostly at the Job where ive gotten raises :). The biggest thing is beleiving that you can do it. Everyone that I tell that I am buying a 4-plex dosent believe me or asks how much money my family is giving me. The answer to that is 0. Ive been fortunate to have had my dad pay for the first two years of school, I worked while in school and was able to pay the last two years with no loans, just grants I received from the government and academics.

So a little on my deal, I have been working with a realtor and looked through apartments from 4-plexes to 18 unit buildings. I have seen everyone on the market and walked through the good and ugly. Made three offers on different four plexes but was to low for owners to sell. One of the greatest things I learned from the podcasts is when you meet someone instead of saying hows it going and good, tell them what you want or doing. I think the entire town I live in knew I wanted to buy a four-plex. Finally that paid off, when a seller came straight to me and wanted to sell. He was a motivated seller that needed money for medical bills for his wife. I walked through with him asked him the price he wanted. His price was higher than all the other building for good reason this is by far the best kept up and nicest one Ive seen, also with the highest rents by $500.

I brought him in and made a low offer with all closing cost paid or up to 3% saving my money down and to my surprise he didnt blink and said yes. This made me nervous that I offered to high, but was confident at the same time. When I got the appraisal back It was confirmed, all of the comps he used Ive walked in. He praised the condition of mine and really had nothing bad to say. He appraised it over $10,000 high which I am ecstatic about. 

The loan I got with this property is a Freddie Annie first time home buyers conventional loan with 5% down and 3.875% fixed interest 30 year fixed. Was looking at FHA but I have high enough credit to use this one, and very happy I did so. Everything is set to close on Friday after a few hurdles slowed me down due to this being my first deal.

After using all of the cash flow calculators and other tools I  will be cash flow positive on three of the units. I will still be paying rent and finding someone to live with me as well, because Im trying to get to deal #2 in less than 6 months.

Wish me luck and thank you again!