Skip to content
Real Estate Deal Analysis & Advice

User Stats

5
Posts
2
Votes
Justin Dyches
  • Rental Property Investor
  • Statesboro, GA
2
Votes |
5
Posts

1st Investment Property!!

Justin Dyches
  • Rental Property Investor
  • Statesboro, GA
Posted Aug 28 2019, 02:25

Investment Info:

Single-family residence buy & hold investment in Statesboro.

Purchase price: $45,000
Cash invested: $7,600

Bought my first investment property recently and received the first of many rent checks this month. It’s never felt better to see the reward for putting in all of the hard work associated with my 9-5 job and rolling that into preparing for my future!

What made you interested in investing in this type of deal?

I needed to act and not sit on my hands and do nothing. You sometimes need to jump and grow your wings on the way down. Experience is key when retaining knowledge

How did you find this deal and how did you negotiate it?

My realtor found it for me. Did the normal haggling but made sure to keep my number at or below what I needed it to be.

How did you finance this deal?

Bank lending

How did you add value to the deal?

I raised the rent by $50 per month.

What was the outcome?

Currently being rented by a young professional couple.

Lessons learned? Challenges?

You won’t get anywhere in life if you don’t step. Even if it’s a small step, you’re still moving. Learned a lot of the hidden fees and expenses when purchasing rental properties.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Ronald Love of Century 21

User Stats

1,751
Posts
1,354
Votes
Cameron Tope
Pro Member
  • Property Manager
  • Katy, TX
1,354
Votes |
1,751
Posts
Cameron Tope
Pro Member
  • Property Manager
  • Katy, TX
Replied Aug 28 2019, 04:21

@Justin Dyches Congrats! You've taken the action many folks never can. 

It's a great feeling getting that first property under your belt. Enjoy the feeling for a little bit then set a new goal to crush!

Best of luck on your next deal!

Emerson Property Management Logo

User Stats

27
Posts
16
Votes
Gerardo Escutia
  • Rental Property Investor
  • Statesboro, GA
16
Votes |
27
Posts
Gerardo Escutia
  • Rental Property Investor
  • Statesboro, GA
Replied Oct 23 2019, 23:02

Congrats on your first deal! It feels real good when you get the first rent check. 

BiggerPockets logo
Meet Investor-Friendly Agents
|
BiggerPockets
Network with top investor-friendly agents who can help you find, analyze, and close your next deal.

User Stats

85
Posts
21
Votes
Mo Muigai
  • Rental Property Investor
  • Minneapolis, MN
21
Votes |
85
Posts
Mo Muigai
  • Rental Property Investor
  • Minneapolis, MN
Replied Oct 23 2019, 23:30

@Justin Dyches congrats! Am getting ready to bite my first deal!

User Stats

1
Posts
0
Votes
Replied Oct 23 2019, 23:37

Congrats on your 1st investment property!