Simple question- How did you find your first house?
Through a realtor, listed on the MLS.
Same here, MLS. Then, I realized a year or so later that most investors don’t use MLS and I bought a so-so deal.
My first was a HUD home through a realtor, but i got it as a home occupant and moved in it since I was living in an apt. My first rehab was from an ad in the paper
I got mine through a wholesaler. I called one of the “We Buy Houses” adds and asked if they wholesale and the rest was history. I found this as the easy way to go for my first project. I still did my due dilligence to ensure I was getting a deal.
I was driving around and spotted a flyer tube, picked one up and it turned out that the guy was offering several houses for sale by owner. I bought a major rehab from him, in another neighborhood altogether.
i’m a realtor. bought a foreclosure on mls. a decent deal based on the CAD and previous rents. a so-so deal based on how much we (partners) spent in fixup (too much money, but more importantly, time) and how much we got in rent (because of timing).
we’re doing ok - $100 cash flow monthly and about $27k in equity.
HUD foreclosure through agent. Still have it. Listed for $112k, bought for $101k, put $1k in repairs, worth $130k at the time of purchase. Now it’s worth about $140k.
it fell off the trailer :o
I bought my first place from a classified ad in my local weekly newspaper for sale by owner. I called, we chatted, I bought it. I lived there for a couple years while fixing it up. Then I rented it out for a few years while I worked on my second place. My second place was a foreclosure listed on the MLS. Bought it, lived in it, fixed it and sold it. Made $200k on that one in just a few years. It kept going from there.