Long Overdue-Intro Blog Post

This will mark my first time to share my experiences in blog format. I'm nervous and excited! Typically I am a very reserved person but, when I am passionate about something that all seems to change for some strange reason. I am intending to use this "members blog" as an accountability piece for myself to document my journey in real estate. I intend to share my background and how I started REI in my beginning posts. In my posts I have commited to myself to show all accurate numbers and experiences. The good and the bad... I hate to say but its not always worked out how I envisioned or planned. Sometimes that was a good thing and somettimes I had to suck it up and look at the positive in the situation. Here is a very, very simple overview of my current properties... All of my properties are currently held as rentals. 

(1) Loreco: This is my first experience into the world of REI. Purchased in February 2011 for 65K. This property is a 2 bedroom 2 bath townhouse with HOA fees of $75 a month. The HOA is going to be a whole blog post in itself. All I can say about that is ---the association saw me as "fresh meat" and tried to unload their unwanted responsilities on me. (and I said "Sure, I'll do all the stuff you guys put off doing because you didn't want to" Man... 10 stories pop in my head just on this one topic. 

Side note: I will go over each property in depth individually and I will include pictures/supporting documents to go along with all of my experiences. 

2) Waller: Oh lovely SFR- looking back I had the opportunity to negotiate a lower acquisition price if I would have known better. But hey... you live and you learn. Purchased November 2012 for 56k and I completely rehabbed this one. Ended up having   ARV of 110k.  Property is a 3/1 on a very large older lot. I completed a cash out refi on the ARV... I was able to secure a loan at 80% LTV allowing me to recoop the renovation costs I paid out of pocket. 

3) Hoyer: If I had a tagline for this property it would be: "Cheap properties are not for the faint of heart". I bought this property April 2013-While in the middle of my rehab on Waller. Purchased this one for 25k cash but it had to sit on the sidelines for 4 months until Waller was complete beause I didn't have the rehab funds available. Completely rehabbed this one and ended up with a 55k ARV which allowed me again to secure a loan for 80% LTV. Property is a 2/1 in a lower income working class neighborhood. I have some stories on this one about letting the first tenants that waived some money in my face (not really waived it-but I didn't correctly screen) and let them move in. 

4) State: Bought this duplex with the 40k that I received at the closing of Hoyer. I maybe had the check for an hour. This is my current project-which should be done in about 10 days**Yippie!!!!!!! This one was purchased for 39.5k and was originally 2) 2/1 units. But, over the years they converted it into a SFR. Lucky for me is everything was metered for the duplex though. 

Conclusion:

-5 units currently owned

-3 properties up and going. 4th and 5th unit are in last stages of finish work and have about 10 more days of labor. 

-All of my units are rentals but....I am going to be on the look out for a flip for my next deal. To bring in some cash. 

Well... That's the quick overview of my portfolio. I am so excited to put on "paper" my experiences To document it for myself and hopefully allow others to learn from my mistakes. I'm gonna be completely open/honest with all of my entries and will not sugar coat anything. I am going to above all else use this platform as a place where I can share my experiences and document the path that I am taking to achieve my goals. 

Current Goal: By the age of 35 (which is 2 years away) to have enough cash flow to equal my income from my W2 job. Giving me the opportunity to decide my future work situation.