Building long term wealth through rental properties.
It’s been a few weeks since we closed on our first investment property. Rehab started a little slow. We closed the Friday before Memorial Day weekend, and being big fans of the Jersey shore, we both shot down to the beach within hours of leaving …
Last week, May 26th, we finally closed on our first home and investment property! It’s been a wild past 30 days from trying to figure out how much to bid on a HUD home, dealing with the township and utility company, and then when we …
Our soon-to-be house is a crime scene!
Just kidding.
But someone did break in.
With inspection over and all mortgage documents handed in, you’d think we’d be able to take a few days to relax before closing on our first property. But of course not.
The Troop took a ride over to the property and was greeted by a front door with no door knob leading to the second unit. Confused, he walked in to find the knob lying on the ground and noticed the entire door frame was broken.
Someone had broken in. Three days before closing.
Continue reading A Break-in Before Closing. Who’s Responsible?
Inspection Day! This day has been long-awaited. As an eager wannabe investor, I called to schedule an inspection even before attorney review was over. I was going to be the most proactive home buyer and no way would inspection related problems delay closing. That wishful …
I knew closing on a home in foreclosure could be a bit of a process. I’ve read the articles, heard the tales. But the process started out so smoothly, I thought we were going to be able to slide by without any real road bumps. …
Multi-family properties have been popping up on the market in our target area in the last few weeks but they’ve been above our price point and it’s been incredibly frustrating. We just want to land our first deal already!
The night before we were scheduled to see two properties, I was browsing the MLS and noticed a new listing; a foreclosure property near our target area. I quickly texted our realtor and asked if we could add this house to our tour of properties the next day.
The first two properties we saw weren’t very exciting so we made our way over to the freshly listed HUD home.
Since our offer fell through on the duplex, we’ve looked at two more properties. One was a four-plex on a main road in our target area. We haven’t even considered a four-plex but it was a bank owned foreclosure and in our price range. This …
The deal on the duplex fell through. Apparently, we weren’t the only offer that was accepted. Even though we rushed to sign the offer contract and hand over our good faith money, the seller kept us on the back burner just long enough to go …
A few months ago I decided to stop actively searching for our first investment property and focus on setting myself up for making the first deal. So I worked on building my real estate education through books and podcasts and getting my finances in order. Although I wasn’t looking for properties to buy at the moment, I was still keeping a close eye on the market and analyzing deals for practice.
I came across a run down duplex in the heart of our target area, ran the numbers, and reached out to our agent so we could take a look. I was very apprehensive at first. It wasn’t the right time for us to buy something and the place looked tiny in the listing photos. As soon as we walked in I fell in love.
As like many others, we want to reach financial freedom. By that, we don’t mean lavish trips to secluded islands, private jets, and the finest wines, but the freedom to make life decisions without worrying about financial constraints. There are some real estate investors who …