I think it'll be fun to look back at this journal and see if I made any money or progress.
Tommorow, I go to look at my first property after having puchased Deans Millionare book. His book spurred me to get off my butt and do this.
I have a life partner who has good credit and a great job. I'll do all the legwork and the sweat labor... he just has to sign his name in a few places. He's got the easy part! LOL. I'm fortunate to have a partner who trusts me fully and is enthusiastic about investing in real estate.
A little about the property...
1760 sq ft. - 3 bedroom - 2 bath - detached garage - $2300/yearly taxes. Research on Zillow.com shows me that it sold in 2004 for $124k then again in april of 2008 for $156k. Now, it's on the HUD website as a foreclosure for $89k. I don't know what happened in 9 months to make this property worth $67k less but I'm taking advantage of it!
A little elbow grease and I should be able to flip this property within a few months. I'm hoping to make $30-$40k. We'll see!
See my target at the attachment link below.