All Forum Posts by: Cory Lucas

@Ryan Freet it went really well in my opinion. The seller was actually my realtor that I’ve been working with. I was playing Santa at Christmas time and was just thanking him with a gift, he ended up taking me out to lunch that day and offered me his duplex. I was shocked, but I think it’s all gonna work out pretty well

Numbers, no I don’t mind you asking. I gave $55,000 for it, which I may have been able to get the price down to say $50k, but the help he provided me with not only on the deal but with real estate in general and hopefully will continue to do so to me is well worth the extra $5k. Helped me with the down payment, so we only had to put out 10%, he recommended multiple people for different items I needed (like a sewer scope) which saved me money along the way, has offered his handyman if I need an emergent repair, and put in a new furnace on one side. So I feel I did ok in not negotiating that down on this one

It currently rents for $400 and I plan to get them to $450 no later than September. Keeping the current tenants on a month to month til then. Taxes are a bit high at $1,681, but I’m currently in the process of hopefully bringing that number down for this current year. Only big items that will need fixed in the future is a water heater and the roof (but it has at least 10 more years on it).

Lemme know if you have any other questions! Love chatting real estate, even more fun when it’s my own property!!! Pretty cool

Wahoo! Closed on a duplex on Monday and just cashed my first rent check, exciting stuff! Thanks to everyone that has been kind enough to reply to my posts and answer my questions. Deal #1, check!!!

Love the BiggerPockets community

@Erik Whiting good info, good share. Thanks

@Linda Weygant good stuff, thanks for coming in

@Amelia McGee good post, admire your ambition! Best of luck

@Ryan Evans good info, thanks for posting

@Dorothy Monette sounds like a good problem to have. Best of luck, good looking RV storage facility close to where I live for a pretty good price if you’d want to entertain something like that? ;)

@Nate Haskins congrats on the property! That’s awesome at 22, keep it up and don’t quit man and you’ll be well on your way to wealth most of us don’t figure out until later in life.

Curious you said cash flow of $1, you mean $1 per month? Most go by $100 per month, obviously depending on other variables. As in you wouldn’t consider $100 a month cash flow if your payment was say $4,000

Best of luck with things, you sound like you have a great start going

@Jack B. momma always said you’ll catch more flies with honey than vinegar. Just a thought, best of luck

@John Underwood thanks for posting, pretty cool stuff