How did you get started?
Hi everyone

Im new to the buy and hold cre game and I'm keen to hear your story. Tell me about the first property you brought, how that led onto your next deal and where you are now.

What do you know now that you wish you did when you first started?
[{"id": "f6i5qf2", "text": "2013 11 unit building in low income area. Got it for $500,000 after a lot of negotiations. Was able to pay tenants to leave. Renovated all of the units for $350,000. Got it appraised for $1.3M, cash out refinance and used the proceeds to buy the next one.\n\nIt did not go as smooth as it sounds but it was a good deal.", "replies": [{"id": "f6ig368", "text": "Well done!", "replies": [], "depth": 2}, {"id": "f6ipxes", "text": "Originally thought you said you renovated each unit for 350 and I'm thinking....That math my not add up to me... Hah! \n\nWithout sharing too much information, how were you able to front $850,000? I'm assuming you financed, and if so, what was your LTC, leverage ratio? Equity contribution? Again, if this is too personal, please disregard.", "replies": [{"id": "f6iqlar", "text": "75% LTC 25% former clients and friends money", "replies": [{"id": "f6irl4p", "text": "Thank you. I bet you were excited when you saw that first new appraisal. I've worked some cash out recap deals and it almost seems criminal how much some guys can walk away with on a three year project.", "replies": [{"id": "f6j1kxj", "text": "I had a mentor cash out $12m above what he put into a deal. But ye, I was very excited to see the first appraisal", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f6ido50", "text": "We bought an 1,800 sq ft office building to operate a school we wanted to start (kind of a learning annex type deal).  \n\nWe haven't been able to sell it or rent it since we shut down the school =(.", "replies": [], "depth": 1}, {"id": "f6o97rj", "text": "Recently just started, I'm probably a beginner just like you.  The main thing I prepared for was the money that I'll be investing because I know real estate is an expensive venture.  I read some forums in BiggerPockets and watch youtube vids to get a glimpse of what the industry really is.  I also checked Zillow, Realtor, and Zumbly if I want to look at properties and compare prices.  I currently pay for the lease-to-own property I acquired recently.  Goodluck on your venture man!", "replies": [], "depth": 1}, {"id": "favf3fr", "text": "Scanned google and a few things about you", "replies": [{"id": "feb6z1a", "text": "Watched videos of Graham Norton lol.  Found out about real estate websites as well", "replies": [], "depth": 2}], "depth": 1}, {"id": "fc54fbd", "text": "Wish I joined forums and talks about real estate before", "replies": [], "depth": 1}]