Skip to content
Home Blog Personal Development & Goals

22 Unforgettable Experiences From My First Rental Property

Seth Williams
1 min read

1. The thrill of excitement when I finally found a deal worth pursuing.

83689448
Source: plus.google.com

2. Doing my initial walk-through and realizing the property needed a lot of “updating”.

83493001
Source: ebaumsworld.com

3. The only thought that went through my mind when the seller kept bragging about what a “cash cow” the property was.

dont believe you anchorman
Source: ReactionGIFs.us

4. When I sent the seller a low-ball offer, and they accepted it.

when+a+send+out+an+offer+assuming+they%27ll+say+no+ +but+they+end+up+saying+yes
Source: plus.google.com

5. When I finally got my loan approval from the bank.

83518461
Source: ebaumsworld.com

6. When I was signing closing documents at the title company, and the seller walked in the room.

when i'm at the closing table getting an awesome deal and the sellers walk into the room
Source: ebaumsworld.com

7. Walking out of the title company with my agent.

83564562

8. Meeting my tenants for the first time and seeing their response when I asked, “Can I expect to receive your rent on the 1st of each month?”

83689440
Source: ebaumsworld.com

9. One month after closing, and the furnace needed to be replaced.

oTjuJWJ
Source: imgur.com

10. My feeling of elation when the first rent check came in.

Qnx4k2Q
Source: i.imgur.com

11. Showing the first rent check to my wife.

QgDoNFk
Source: imgur.com

12. Realizing our tenants didn’t really care about our “No Pets, No Smoking” policy.

funny-face-dog
Source: ebaumsworld.com

13. My response whenever a tenant started explaining why they missed their payment.

v4DDMJg
Source: i.imgur.com

14. When my property manager asked if I’d like to set up direct deposit into my checking account.

Source: i.imgur.com

15. Visiting my property after a tenant got evicted and realizing I need to be prepared for ANYTHING.

eddie
Source: ReactionGifs.com

16. Seeing a good tenant move away.

how i feel whenever a good tenant moves away
Source: ebaumsworld.com

17. Seeing a bad tenant move away.

when i finally get the tenants from hell out of my property
Source: REtipster.com

18. The first month I didn’t bring in enough revenue to cover my expenses.

mqd4WAA
Source: i.imgur.com

19. How it feels to have a vacant rental property with an ongoing mortgage payment.

83689417
Source: ebaumsworld.com

20. Getting my first annual property tax bill and realizing I had slightly underestimated this particular cost.

83593354
Source: ebaumsworld.com

21. Listening to my CPA explain the amendments to the IRS tax code pertaining to rental real estate held by an LLC.

83518485
Source: plus.google.com

22. When I finally saved up enough cash to buy my next rental property, and my Realtor sent me 5 new listings to look at.

ready to buy
Source: plus.google.com

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.