Real Estate Rental Property #4 Update (November 17, 2013)

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Rental Property #4 has been fully funded and is now ready to go! I signed and wired the funds to escrow this past Tuesday, however, there was a small final glitch that kind of held things up for another day. Apparently, the notary forgot one of the forms, so the lender wouldn’t fund the loan until they got yet another signature from me!

This stuff happens… all the time. Well, at least it seems that way to me. This loan took over two and a half months to close, so at that point, I was pretty much just used to it. No big deal, another hurdle to clear. Finally, on Thursday, I did receive the “all clear” signal from the seller. So, Rental Property #4 is now officially mine!

Just to recap, the property is located in Indianapolis, IN. It is a 3/2 single family home. The purchase price was $95,000.

Up to this point, I haven’t posted any pictures. Actually, I’ve never even seen the place myself (again this goes back to trust and building a reliable team). I only have pictures that the seller provided to me.

After Rehab:

5

1

3

4

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1031 Exchange Update and Future Plans (July 17, 2014)FI FighterMartinStephanie@Mrs.Debtfighter Recent comment authors
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Stephanie@Mrs.Debtfighter
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Congrats! Having rental properties is on our “someday” list when the time is right! 🙂

Martin
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Nice. And now, little break and go for #5! right? As I know you your little break will just be a few days or weeks at most before you jump to another property 🙂

Well, congrats and good luck.

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[…] behind the 1031 would have been to trade for some cheap single family homes (SFH), like Rental Property #4 in Indianapolis. The bolder strategy, would have called for a 1031 exchange into a commercial apartment building. […]

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