What properties did you buy in 2020?

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With just a few weeks left in the year, it's likely that I'll end 2020 having made no purchases. I only began looking in earnest in late October, so I don't feel too bad about it, but I'd love to hear about what YOU purchased this year.

What was your goal for the year?

How many purchases did you make? What was the property type and the investment strategy (wholesale, flip, buy and hold, etc)? Where are they located?

Any details you can share about the deals? Purchase price, cash invested, sale price or ARV, rent, financing

Any finally, did any professionals help you with this deal that you would recommend to others? Realtor, lender, title company, contractor, PM, etc

I created this topic in the Fayetteville forum, but I'd love to hear about any deals in Northwest Arkansas: Rogers, Bentonville, Springdale, Centerton, etc 

That's awesome Jennifer!

I recently purchased a Duplex and it was a MLS list. We were lucky in a sense that when it came to market I was able to reach out directly to their agent and placed an offer higher than what they wanted and they just right on accepted it. It was because home needed a bit of work which I didnt mind. It is located in Bentonville and I am trying to convert it to a 3 unit place :). I know deals are hard to find but keep on looking. A lot of good deals come to MLS in my opinion it's just a matter of luck and speed.

My goal for the year was to acquire my wife and I's first property - which we accomplished back in March!

Buy and hold bought for 160k in Fayetteville with 20% down via conventional financing. Ended up negotiating a few thousand in seller concessions and did some renovations for ~5k. Rents for >$1400 and meets our criteria for a B neighborhood, 3/2 with garage, and not exclusively catered to college students, but could be if needed.

Found it on the MLS, but had to be quick to snap it up. COVID probably worked in our favor to expedite the seller's decision to accept our offer without hearing any others. We plan on continuing with buy and holds until we get 2-3 under our belt after which we will likely switch to more of a BRRRR strategy seeing as most of NWA is teetering on that line of where it doesn't make sense anymore to acquire properties that only need a little love that still cash flow >10%

I unfortunately have to say that my goal was to purchase 3 duplexes this year. I have made the money to purchase those, but have not executed on a deal. Several offers.... just haven't gotten any accepted. 

I kind of bought a deal. I actually bought and moved into a new house, and rented the one I moved out of, Mar 1. Its funny, my neighbor was selling his home FSBO. I called him and said I'd buy it. He needed a place to rent for a year while he built a new home, so, we just did a house swap. I bought his for under his asking price AND he paid my closing costs, and I gave him a screaming deal on the rent while he built his house. The rental is a 3/2/2 on a huge lot in Cave Springs. When I bought it for myself I put as little down as possible (5% plus closing costs). When I get my next renter in there, it'll CF like $300. Not a "home run" since my PITI is so high, but, its an addition to the portfolio at very little money down, and 3.5% fixed for 30yr.

Originally posted by @Leigh Jones :

I kind of bought a deal. I actually bought and moved into a new house, and rented the one I moved out of, Mar 1. Its funny, my neighbor was selling his home FSBO. I called him and said I'd buy it. He needed a place to rent for a year while he built a new home, so, we just did a house swap. I bought his for under his asking price AND he paid my closing costs, and I gave him a screaming deal on the rent while he built his house. The rental is a 3/2/2 on a huge lot in Cave Springs. When I bought it for myself I put as little down as possible (5% plus closing costs). When I get my next renter in there, it'll CF like $300. Not a "home run" since my PITI is so high, but, its an addition to the portfolio at very little money down, and 3.5% fixed for 30yr.

I've heard great things about Cave Springs, that's awesome. Thanks for sharing!

 

We have sold three sfrs and the mobile home park,  Two of them were wholesale, one full market,  paid off two, and had one burn.  Have been looking for the next one all year, Made a couple of offers but there's crazy money out there being thrown around.  I am ready to buy the next one if I can find the one I want. would do a flip or two. 

I am ready for 2021. looks like we are going to wholesale a few more , just trying got figure out which ones. 

Updated 3 months ago

A little update just sold another SFR, personal with wife. And made and accepted another SFR in the IRA side. will close in January, first one in 2021 maybe it will be a better year