Bought my first investment property
I have been a long time reader here. Last month I purchased my first investment property from delinquent sale foreclosure auction. Shortlisted few properties after driving all over. First few went over my predetermined price. Finally the one I liked the most, I was able to outbid everybody.
Its 10 year old 3500 sq ft house in nice suburb of NE Ohio. Selling price when it was built was 350K. I won the auction at 150K. After paying went to knock on the house. They let me in. Surprisingly everything is in great condition. Basement is finished. There is huge deck in the backyard. Only thing needed is new paint and granite in the kitchen. I plan to do the granite myself.
Overall it was a great learning experience. Plan to rent it first and then sell later.