Congratulations to Tyler, who just bought his first real estate investment at the age of 24!
Tyler was introduced by my past client / friend. He is the foreman of an electric company and is seriously ambitious. In our first conversation, Tyler shared with me his long-term goal of acquiring real estate as a means of passive income and ultimately funding his retirement.
Tyler had opened his doors to many different areas, but wanted to be on the eastern side. Initially, he wanted a home that needed some degree of sweat equality. We saw a handful of homes, and his search immediately pivoted. A better-shaped house was more attractive because he wanted to rent some bedrooms right away.
I turned to the newly listed home a few blocks away from me and used it as an example of the kind of home we should be looking for. It was what I called a “plain Jane” home-clean and in good condition, but nothing flashy-and 3/2. It was a little above Tyler’s maximum price, but in just a week after it hit the market, the price dropped by 30K.
Tyler called me immediately after seeing the price cut, and we agreed that we need to see it in STAT. He had just driven back to Beaverton after seeing another SE house, but he returned to the car. The house was literally a few blocks away, so I was able to sneak away from the rally I was hosting for 10 minutes to show the house.
It took less than 10 minutes – Tyler wanted this house. We knew we had to submit an offer that night before the weekend open house. If you offered a price that was slightly higher than the new price but lower than the previous price and accepted by noon the next day, we added a $ 5,000 contract. The house was for rent, but the seller wanted to sell it. It was put on hold by 9:30 am.
A significant amount of credit could be negotiated for repairs and the valuation confirmed its value. Tyler got the key over the weekend. We celebrated with a shot of tequila, just as we did when we bought our first home at 24:00. Cheers to this wise young man who took an early step to prepare himself for success later. I can’t wait to help you buy Investment Real Estate 2!
Start Young … Tyler’s first investment
https://www.livingroomre.com/buyer/start-em-young-tylers-first-investment/ Start Young … Tyler’s first investment