Rental Property Investor · Norman, OK · Member since 2018 · 156 posts · 529 votes
Here's your chance to be featured in the next issue of Magazine!
In 50 words or less, what's the best real estate deal you've ever done?
By responding here, you're allowing us to print your name and response, if chosen, in the next issue of the magazine. We're looking for some great deals—or even better, great stories. (Deals aren't always about the dollar amount... We're excited to hear about your most inspiring experiences!)
Rental Property Investor · Ottawa, ON · Member since 2019 · 68 posts · 225 votes
6y
@Kaylee Pratt. Built a side by side duplex with 0$ down for a 420,000$ mortgage in 2018. Sold 1 half for 258,000$ in January 2020 and the 2nd half during Covid for 345,000$. Made 183k profit for 0$ invested and still cashflowed 300$ a month during those 2 years.
Rental Property Investor · Ottawa, ON · Member since 2019 · 68 posts · 225 votes
6y
@Kaylee Pratt. Built a side by side duplex with 0$ down for a 420,000$ mortgage in 2018. Sold 1 half for 258,000$ in January 2020 and the 2nd half during Covid for 345,000$. Made 183k profit for 0$ invested and still cashflowed 300$ a month during those 2 years.
Investor · Milwaukee, WI · Member since 2016 · 22 posts · 22 votes
6y
I Bought a 4 family plus some shop space in Cudahy, Wisconsin (near Milwaukee) in 2018 with BRRR funds from my first purchase. I had about 20k of fixup funds after the downpayment and after rebuilding a basement apartment, cleaning up the others, and renting the previously vacant garages I have a property that rents out for $4200, with annual taxes of 3k, and a value of close to 300k. Best 20k+ annual income ever. This month might have beaten that deal between a house purchased at 14.5k in a suburb and a 6 family for 160k in another suburb but only time and rehab will tell! Looking forward to buying more deals! It's been a wonderful couple of years full of steals.
New to Real Estate · Ottawa, Ontario · Member since 2020 · 9 posts · 10 votes
6y
@Kaylee Pratt my husband and I purchased our family home five years ago. We weren’t overly keen of its location, but purchased anyways as it was without our budget. Five years later, the community is exploding and we just sold it for 270k more than we paid. We just reinvested in a different province on a house below market value, and are excited to see what else is out there for us :)
Rental Property Investor · Streetman, TX · Member since 2018 · 527 posts · 495 votes
6y
@Kaylee Pratt
Purchased a 1950’s stuccoed 2BR/2BA home with 58 acres of land in Santa Clara County, CA for $765,000 in 2011. The land was already divided into four separate parcels. Refinanced home and pulled 3 parcels out from under mortgage in 2013, owned land free and clear.
1) Completely renovated the home adding a 500sqrft en suite, added 3rd bath, new kitchen, new HVAC. Sold in 2018 for $1.3M
2) Developed half acre parcel into a build ready parcel. Sold for $275,000 in 2019, 1031 exchange.
3) Developed 13.5 acre parcel, drilled water well, electric, septic and building site approval. Sold in 2019 for $675,000, seller financing.
4) Remaining 41 acre parcel has been leased to hi-tech startup for $4000/month. The plan is to sell in 2021 expected sales price $575,000
$2.8M on $765k in eight years enabling me to retire early.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
6y
Wow there are so many great stories. I remember one author said the deal of the century comes around at least once a year. He was right.
How about a property we got for $8,000 that was rented section 8 for $1,000 a month.
Or a property that was listed for $69k that we bought for $2,000! We put $11k in work into it and it is rented section 8 for $1300. a month.
Or how about a property that the seller wanted $250K We eventually bought it for $120k Then sold it for $120k. We sold it for the same price we bought it and yet made $70K. How did we do that?
Or how about the three properties I put under contract for $2,000 each. I sold them for $75k . . . Um that was $75k each!
Or how about, well you get the idea I have lots of stories.
Rental Property Investor · West Bend, WI · Member since 2015 · 931 posts · 598 votes
6y
Bought an SFR at Sheriff sale for $9,000 hired the clean out and rehab, $26K (so all in at $35K) have a tenant at $900/mo. Did a cash out and the appraisal came back at $130K. I have another I paid $6000 for and spent $7500 on rehab, have tenant at $725 worth $60K and another I Paid $7,400 for spent $7500 on rehab, have tenant at $725/mo worth $70K those are my best rentals. Best Flip, I paid $125K at sheriff Sale spent $18K on rehab and sold it for $225K in 3 months. I remember writing a check for $60K after closing paying down my personal homes mortgage.
Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
6y
@Kaylee Pratt
Bought my First Triplex in November for $200k (3) 2/1s. Total rents were $1400/month. We completely renovated the property over 4 months doing most work ourselves. Total renovation was $15k. New total rents of $3500/month, It appraised for $350k and we just finished cash-out refi. Got total investment plus $10k back out. Still have $105k of equity left in the deal and cash flows $1950/month before maintenance, vacancy and Capex. This was are 3rd deal ever done.
Wow there are so many great stories. I remember one author said the deal of the century comes around at least once a year. He was right.
How about a property we got for $8,000 that was rented section 8 for $1,000 a month.
Or a property that was listed for $69k that we bought for $2,000! We put $11k in work into it and it is rented section 8 for $1300. a month.
Or how about a property that the seller wanted $250K We eventually bought it for $120k Then sold it for $120k. We sold it for the same price we bought it and yet made $70K. How did we do that?
Or how about the three properties I put under contract for $2,000 each. I sold them for $75k . . . Um that was $75k each!
Or how about, well you get the idea I have lots of stories.
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
6y
Bought a mixed-use apartment/office/light industrial complex, off market from a retiring seller using a bank loan at 25% down, and was able to 6x my initial equity in 3 years. The cash flow was just icing on the cake.
Investor · USA · Member since 2015 · 168 posts · 243 votes
6y
Use $20k own money, $80k from cashout of primary home, bought a $100k property with cash in 2012, sold it in 2019 for over $300k. During the holding period, cashout refinanced twice and used the proceeds bought other properties. Eventually, the original $20k own money is growing to a $1.8m portfolio, with $0.6m equity. All deals are remote and I never see any of them personally so far.
I'd have to say my best deal was the first apartment syndication we did. It's not the biggest deal and it likely won't be the most profitable, but it opened the doors to bigger and better deals.
Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
6y
Best deals recent( Southern Colorado), several houses bought between 40K-55K, did the construction and sold every one of them fom $47K to 78K. profit.( over 60.
Old deals in Ogden, Utah. Bought office space 1-2000 Sq Feet and another space 3000 sq Feet, $75,000.
Here's the catch, in very fine print , 6 2bd apart.
Yes 6 two bedroom apartments, sold it for $475,000 with less than $55,000 in repair work.
New to Real Estate · Ventura County · Member since 2020 · 13 posts · 41 votes
6y
I noticed 99% of these deals are done at least 9 to 6 years ago. Nothing current. I so wish I could get a deal of a life time! I have $110k to play with, zero debt, no bills, 90k a year career and can't find nothing here in Los Angeles Ventura County area! Very blessed you all are! I hope you all find more deals and achieve your goals :D.
Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
6y
Ogden Utah, 2 offices spaces 2000,3000. $75.000. In very small print 6 2b units. like written in with a pencil on the MLS commercial listing. We paid cash that afternoon and sold it for $475, 000. less than $55,000 Rehab! less than 3 months!!!
I noticed 99% of these deals are done at least 9 to 6 years ago. Nothing current. I so wish I could get a deal of a life time! I have $110k to play with, zero debt, no bills, 90k a year career and can't find nothing here in Los Angeles Ventura County area! Very blessed you all are! I hope you all find more deals and achieve your goals :D.
Joe- Keep searching, find creative ways to kick up deals, offer everyone you meet a finders fee, etc. Just closed two homerun deals this month, they're out there just waiting for you to find them.
I noticed 99% of these deals are done at least 9 to 6 years ago. Nothing current. I so wish I could get a deal of a life time! I have $110k to play with, zero debt, no bills, 90k a year career and can't find nothing here in Los Angeles Ventura County area! Very blessed you all are! I hope you all find more deals and achieve your goals :D.
Joe- Keep searching, find creative ways to kick up deals, offer everyone you meet a finders fee, etc. Just closed two homerun deals this month, they're out there just waiting for you to find them.
Thank you for this! I can't wait for my first deal! I'm looking, perhaps I'm not looking in the right areas?