Power of BP

12 Replies

So I bought this house from another BP member. Closed on May 2, 2014. Rehab started May 2, 2014. We had 6x30 yds dumpsters of garbage in the house and we painted the whole house and new flooring in kitchen. New tub surround.

Purchase Price - $30,000

Rehab - $4,000 (including dumpsters)

Monthly rent - $1,020

Had another BP member @Chavis Atkins rent it out for me on May 19, 2014. Tenant moving in June 1, 2014.

I found the wholesaler and Chavis at local REIA and found out they are both BP members.

Chavis has been helping me lease a lot of my properties. He is an extremely motivated guy. Very passionate about real estate.

What a great deal! thanks for sharing

WOW!! $1,020 in rent off of $34k total invested? Can't get much better than that...

Originally posted by @Sharad M. :

So I bought this house from another BP member. Closed on May 2, 2014. Rehab started May 2, 2014. We had 6x30 yds dumpsters of garbage in the house and we painted the whole house and new flooring in kitchen. New tub surround.
Purchase Price - $30,000

Rehab - $4,000 (including dumpsters)

Monthly rent - $1,020

Had another BP member @Chavis Atkins rent it out for me on May 19, 2014. Tenant moving in June 1, 2014.

I found the wholesaler and Chavis at local REIA and found out they are both BP members.

Chavis has been helping me lease a lot of my properties. He is an extremely motivated guy. Very passionate about real estate.

Hahaha! @Sharad M. you are too kind to mention me. But let it be known that I have been receiving a major amount of help from Sharad working with him. I'm learning one thing on my journey into real estate investing, every little thing you encounter on the path, you learn from it. But I have to be grateful to BP so far and the local REIA for introducing me to so many people.

Sharad being extremely smart and motivating draws people like me around him. I'm seeing more and more that any negative way of thinking can take you 10 steps back in progress. BP is so empowering and the structure of BP allows me to never miss a beat when it comes to knowledge. Thanks BP and Sharad for helping a brotha out lol!

Six 30 yards for a small house like that. Holy Crap! Was this a hoarder or what?

My man . . . that's awesome! Thanks for sharing another amazing BiggerPockets Success, @Sharad M.

Nice Deal!! 6x 30yds dumpsters geez must've been alot of trash. Love the outcome though. Do you have any before pictures?

Thanks all.

@Marcus Brown Unfortunately, I don't have any before pictures. I didn't even see the inside of the property until after the closing. When the BP wholesaler called me, I was out of town and I had my agent go look at the property and negotiate the price for me. He forgot to take pictures and videos and I wasn't able to go in until after closing. Because I had my crew lined up the day of closing, just didn't get a chance to take before pictures. Here are some close to after pictures.

That's a great NWI deal!

I also invest in the area, one rental so far and just starting out. What investor meetings do you guys go to? I know I gotta start networking in the area because it seems there's a lot of competition around there. 

Maybe some realtor recs too? Mine doesn't seem to understand REI and keeps telling me everything is a great deal, buy now etc when I tell her the #s don't work for me.

Hi @Therese V.  

I think there's only one local group in the area called NICIA. They meet 2nd Thursday of each month, so we have the June meeting tonight.

The girl who works for me just got her RE license, so if you need help with anything, please let me know and I will be able to help.

Thanks,

Sharad

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