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Real Estate Deal Analysis & Advice

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Bobby Nilsen
  • Rental Property Investor
  • Los Gatos, CA
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1st yr, 15+ Deals in SF Bay Area, $1.6m Profit, Ask Any Questions

Bobby Nilsen
  • Rental Property Investor
  • Los Gatos, CA
Posted Nov 4 2017, 08:10

Good Morning All,

We have officially completed our first year in business. We did about 15 deals ranging from $15k rehabs to $650k rehabs and $23k wholesales to $150k wholesales. It was about 50/50 on wholesaling and fixing and flipping. Let me start out by saying my partner and I have never made more than $100k, we live in the SF Bay Area so I think we are considered to be in poverty, just kidding but its close. Up until 2015 I was in the military and was making the big bucks. I guess I am trying to say money didn't come easily and we scraped by for the first two deals to make them happen with the caveat that if these didn't work we would lose as we went all in and it would be back to the 9-5 and saving just to hope to retire at age 65. We both have been in real estate as a side gig that made no money for some years. We each have a buy and hold and we both got our real estate license, with which we sold nothing right before the crash. So we have some experience with real estate, none with flipping except for the TV shows for which I now have no time for. 

It all started October 2016 after spinning our wheels for a good year plus with nothing happening. In that learning process we were shooting in a dark room and probably came very close to shooting ourselves a few times. In a matter of a month after that first deal the lights came on and the roller coaster took off. The first property was a single family home that we essentially wholesaled and then we turned and burned for the big stuff. The next one was a 4-plex that we flipped, full rehab and stabilized the rents. After that we did another four multi-families mixed in with single family homes. Our purchases ranged from $300k to $2m.  

One of our best moves that took us from six figure flippers to the seven figure range was networking. We attended quite a few meetups and took everything we could from the speakers and utilized it to the max. One speaker has made us $500k plus this year and will most likely make us more than a $1m in the next yr or two. There were some meetups where the speakers were OK and the benefit of that meetup was meeting all the others who were there.  

We have now started keeping the multi families and are still focusing heavily on the the single family flip. There is just no better place in the world to be in real estate than the San Francisco Bay Area. Ask your questions and I'll answer them the best I can. 

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