How I made $800,000 on one flip

30 Replies

Originally posted by Brian Burke:
I totally blew that one. Well...kinda...I like to project conservatively. The income exceeded projections because the tolerance for rent was higher than I forecast, and vacancy ended up lower than forecast (oh, darn!).

Well if you're gonna mess something up, thats the way to go!

Thanks for answering . Also, I did just listen to the biggerpockets podcast you did and it was really informative.

I agree that Austin would be much better than Santa Rosa for owning apartments!

Great story Brian. Next deal like that you come across, hit me up, I could very well be interested and do so without the need of the Reg D.

Originally posted by Will Barnard:
Great story Brian. Next deal like that you come across, hit me up, I could very well be interested and do so without the need of the Reg D.

I like the way you think, Will. Finding another deal like that is a dream come true, but that won't stop me from trying. It's out there somewhere...

Brian, what an inspiring story! I also loved your interview on the pot cast3 and recommended it to many of my friends.

I am curious if you buy brand new or used appliances and HVACs for flipping those units? Where do your company usually buy those appliances from? I would assume you will get a big wholesale discount?

You must have hired a great property manager to improve the vacancy rate from 50% to 97% within 22 month while increased the rent by 16%, especially considering that you are in CA while the property is in Austin TX.

How did you find such great people to work with, From my experience, it's hard to find a great deal. And it's even harder to find the right persons to work with. This deal is definitely a great execution carried out by a great team!

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