Wednesday, November 2, 2011

Updates coming soon, Hopefully with house number 3!

I am goin to try to start keeping this thing updated and maybe even post some pictures,

COMING SOON!

Second Purchase

I have bought house number 2.  I went in with a partner and inted on flipping this house to give me some capital to buy two more rentals.

Monday, January 24, 2011

The Search for my First Home

I am going to backtrack and talk about the search for my first home.

I was looking to buy a smaller home (no more than 1500 sq ft) for the purpose or renting it for a few years and selling it.  I wanted the home to be close to me.  I live Willoughby Hills which is 25 min east of Cleveland, Ohio.

Some factors I had to consider when looking for the home were:
1.) taxes-how much will be deducted from my monthly rental income
2.)bed/bath- the more bed/bath then obviously the more I can charge for rent
3.)price-another obvious one, price was a factor( I originally wanted to spend no more than 50k)
4.)location- who can I rent to? How does the market/ resale value for these homes look in say 5, 10, 15 years?

Why This Blog Exists?

I am making this blog because I am a 20 year old college student interested in Real Estate.

I started to act on my interest about a year and a half ago when I searched for houses on the web. Then on December 15, 2010 I bought my first home with the idea to fix and rent it for income.

In this blog I will talk about how I did what I did and post pictures and videos of my progress and talk about future plans.  I will cover mortgages, home improvement, rental problems and everything else I experience. 

I would love to hear from others about their plans or experiences as well.

I believe Real Estate in our current time is our best investment and will make us some of the wealthiest people in the next 20 years.