All Forum Posts by: Account Closed

@Erik Matthew I’m not choosing a fourplex because I know that it doesn’t really matter what your first deal is, the first deal is about learning.

My plan is to find a duplex that is a good deal and learn with one tenant and 2 units to upkeep. I know myself and working full time, going to grad school, and managing 3 tenants/4 units all at the same time without any experience would be too overwhelming. I’ll start with a duplex, focus on learning everything I can, and branch out from there after a year or 2.

Sorry for the delayed response, I spent the rest of the weeking decompressing. I apologize in advance for not replying to each of you. I would if I could. 

As an update, I pressed on and signed the remaining docs this morning. It turns out that they marked it as as a single family home from the start, never caught it, and when it went through a set of secondary auditors, that's where it was found. My loan officer apologized profusely especially for not being around during closing for my questions and for the initial blunder. I shared with him the processes that were broken and swallowed the $800. This may have disappointed you, @Steve Vaughan , but I didn't want to fight it any further. 

@Bob Woelfel As you mentioned, "dont' step over the dollars to pick up the dimes." I really liked that quote and surprisingly was the first time I've heard/read that. I definitely enjoyed reading "Living with a Seal." I must have done hundreds of push ups in the last 2 weeks after finishing that book. I'd recommend following it up by downloading Blinkist and download the blinks for David Goggins' own book. 

@Matt A. It sure was a learning experience. $64K tuition sounds expensive! I hope that includes room and board. 

@Dennis M. I can't believe you're still in the game after all of that. I definitely can't continue to complain after reading your post.

@Bryan Clement I'm glad that you're enjoying the property after all of that you went through to close on it. You're probably enjoying it more knowing the hurdles you needed to jump over to even make it possible. Good on you! I think I've been spoiled because the road to closing all the other properties I've owned wasn't this difficult.

@eric 

@Account Closed Let me know when you need that reminder, haha.

I've put this one in my rearview. It's time to pass this one over to property management, maybe kick the existing tenant out, and move onto the next deal. But like I said, I'm still beaten up, so I make take some time to get back into it. Funny enough, when it came down to signing the docs today, and getting the closing funds transferred, my printer/scanner broke and my bank wouldn't let me wire the money electronically. I had to put a little more effort into getting it past the finish line. But I did it. My "WHY?" was definitely important enough to keep chugging along. Thank you all for your help.