- Joined
- Aug 30, 2007
- Messages
- 12
Hi, I just wanted to share my success story for this summer so far.
I have one rental property that I bought years ago and kept when I moved into my current residence. For the first 8 months, my sister rented from me but she gave her notice to leave at the end of June, so I had to find renters for the first time. Not only did I get lots of calls but I rented it for 1950/month even though I was advertising it for 1800. Success #1
Success #2 - I just renewed both my mortgages and will finally make the jump to variable rates which will save me about $300/month.
But my proudest success, I have been a REIN member for over 2 years now, I love the information I get and the resources are awesome. But until now I had not actually made an offer to take the jump into Joint Ventures. Well I did it tonight! I made my first offer, I don`t even know who my Joint Venture money partner will be yet but I made the offer, and it feels good! I feel confident because I have done my homework and I know that the property will cashflow between $100-300/month so I am sure that I will find my JV partner.
UPDATE: Well that was short, we have been working on this one for almost a month and it turns out that the day after I make an offer, he gets a better offer, I am a little disappointed because we had room to counter but were not given the chance before he accepted the offer (unique situation, when we first started talking, he had no realtor but when we made the offer, he had hired one with the condition that she would not get her commission if we made a deal) so ultimately I can`t help but feel that the realtor gave a gentle push towards accepting the other offer before calling me. But oh well, I will get over it by focusing on the fact that I made my first official real estate investment offer.
I have one rental property that I bought years ago and kept when I moved into my current residence. For the first 8 months, my sister rented from me but she gave her notice to leave at the end of June, so I had to find renters for the first time. Not only did I get lots of calls but I rented it for 1950/month even though I was advertising it for 1800. Success #1
Success #2 - I just renewed both my mortgages and will finally make the jump to variable rates which will save me about $300/month.
But my proudest success, I have been a REIN member for over 2 years now, I love the information I get and the resources are awesome. But until now I had not actually made an offer to take the jump into Joint Ventures. Well I did it tonight! I made my first offer, I don`t even know who my Joint Venture money partner will be yet but I made the offer, and it feels good! I feel confident because I have done my homework and I know that the property will cashflow between $100-300/month so I am sure that I will find my JV partner.
UPDATE: Well that was short, we have been working on this one for almost a month and it turns out that the day after I make an offer, he gets a better offer, I am a little disappointed because we had room to counter but were not given the chance before he accepted the offer (unique situation, when we first started talking, he had no realtor but when we made the offer, he had hired one with the condition that she would not get her commission if we made a deal) so ultimately I can`t help but feel that the realtor gave a gentle push towards accepting the other offer before calling me. But oh well, I will get over it by focusing on the fact that I made my first official real estate investment offer.