What properties did you buy in 2020?

Fayetteville, Arkansas
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What properties did you buy in 2020?

Jennifer Schelkopf
Investor 路 Bella Vista, AR 路 Member since 2015 路 67 posts 路 47 votes

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 

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Account Closed
Rental Property Investor 路 Dallas, TX 路 Member since 2020 路 20 posts 路 29 votes
5y

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%

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  • Colin Merrill
    Investor 路 Milwaukee, WI 路 Member since 2016 路 22 posts 路 22 votes
    5y

    Did some deals this year, not the best not the worst. Single Family purchase for 14.5k, rehab 60k, arv 150k will finally be renting for $1400 in March. 6 family purchase for 160k, rehab 100k, ARV 350-375k rents for 4950 when done, 4 family purchase 150k, rehab 130k, ARV 200k (mediocre deal), 2 single family and 1 condo flip, there's probably a wholesale I'm forgetting about along the way

    1Reply
  • Caleb Johnson
    Investor 路 Mesa, AZ 路 Member since 2019 路 53 posts 路 63 votes
    5y

    Hi Jennifer, my goal this year was to buy my first flip. I didn't have any capital so my strategy was to find someone who could fund the down payment for the hard money, closing costs and holding costs.

    I searched BP for this person and after messaging 3 different people every day for 2 months I connected w/ someone who wanted to do a flip as well. I was able to add value and bring the connections (hard money, wholesaler and coach). All these people have had extensive knowledge in flipping so we had a good support team. 

    From here we found a property in Scottsdale AZ.

    Purchase 350k

    Rehab 50k

    Holding 9k

    closing 7k

    agent fees 23k

    Comps 460k

    Profit is looking like 21k+

    Hoping the market pushes up this amount of course. If anyone in the PHX AZ market needs contacts I am your guy. Feel free to reach out. 

    Happy holidays!

    4Reply
  • Philip L.
    Wholesaler 路 FL 路 Member since 2018 路 180 posts 路 53 votes
    5y

    @Jennifer Schelkopf I purchased two sfh in michigan

    1, sfh 3 bed 2 bath 1000sqft purchase price $110,000 did a seller finance deal with $40,000 down and $70,000 at 5% for 3 years.

    Did a rent to own with a sale price of $135,000

    $1200 a month rent and $3000 down

    2, sfh 3 bed 1 bath 1500 sqft purchased at auction $108,000 including one year's taxes and auction fees.

    Put $35,000 into the rehab now at is $190,000

    Did rent to own with sale price $190,000 $1500 a month rent and $5000 down.

    In the process of cash out refinance for $135,000

    1Reply
  • Jennifer Schelkopf
    OP
    Investor 路 Bella Vista, AR 路 Member since 2015 路 67 posts 路 47 votes
    5y
    Originally posted by @Colin Merrill:

    Did some deals this year, not the best not the worst. Single Family purchase for 14.5k, rehab 60k, arv 150k will finally be renting for $1400 in March. 6 family purchase for 160k, rehab 100k, ARV 350-375k rents for 4950 when done, 4 family purchase 150k, rehab 130k, ARV 200k (mediocre deal), 2 single family and 1 condo flip, there's probably a wholesale I'm forgetting about along the way

    Wow, those are some big rehab to purchase cost numbers. Are you buying in opportunity zones?

    0Reply
  • Dustin TurnerBusiness Member
    Real Estate Broker 路 Little Rock and Hot Springs Arkansas 路 Member since 2020 路 55 posts 路 62 votes
    5y

    I'm in the Little Rock area. In 2019, we bought a bunch of LTRs, but in 2020 we pivoted to Vacation Rentals. We bought 2 houses in Gulf Shores, AL and are about to close on a lake front property in Hot Springs. Super excited about the income potential. We expect these three properties to gross $175,000-180,000 in 2021.  

    0Reply
  • Ekta Patel
    Rental Property Investor 路 Macon, GA 路 Member since 2020 路 37 posts 路 20 votes
    5y

    @Marcus Johnson

    Multiple Listing Service, Zillow etc

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent 路 Austin, TX 路 Member since 2015 路 5k+ posts 路 3k+ votes
    5y

    @Jennifer Schelkopf I bought a duplex in Austin, sold a single family with ADU in Austin and bought 8 single family homes with a partner

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
    WebsiteView Page
    2Reply
  • Colin Merrill
    Investor 路 Milwaukee, WI 路 Member since 2016 路 22 posts 路 22 votes
    5y

    @Jennifer Schelkopf

    It definitely was weird but nope, these are in blue collar suburbs of Milwaukee Wisconsin. Wish we could've done more but cash constraints and being able to actively manage the projects slowed me down. It pushed me off the edge of leaving my job though so next year will be better. Good luck finding your next deal!

    1Reply
  • Ajay Sharma
    New to Real Estate 路 Member since 2018 路 2 posts 路 0 votes
    5y
    Originally posted by @William Jenkins:
    Not purchasing anything is MUCH better than buying a bad deal.  I've said it before in other forums, but I haven't bought anything in the last 3 years.... The risk reward just seems out of whack to me. 

    As chance would have it however, I just went under contract on a local rental SFR in an area where I own a property already.  The deal was on the MLS and had been languishing (overpriced and title issues).  I approached the selling agent with a number that was significantly lower than than ask.  About a week later she said write it up and the seller took it so here I stand.  So far I've yet to walk through it (only seen photos.....tenant occupied), so I am hoping tomorrows walk through looks good.  I'm not afraid to walk away, but I would like to get the feeling of buying something again.  Haha.

    This happens to be a "tired landlord" type property.  I think we are going to see a lot more of these nationwide in the near future.   

     How did it go? 

    0Reply
  • Juan Rivera
    Rental Property Investor 路 Brea, CA 路 Member since 2020 路 8 posts 路 0 votes
    5y

    @Emmett R. McCarthy can you send me that info please. Thanks

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker 路 Houston | Dallas | Austin, TX 路 Member since 2018 路 5k+ posts 路 2k+ votes
    5y

    It depends

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
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    0Reply
  • Cramer GuzaldoPro Member
    Chicago, IL 路 Member since 2017 路 17 posts 路 8 votes
    5y

    Bought 7 six flats this year, closing on 8 this Monday. Now have 110 units. 

    0Reply
  • Ryan Copeland
    Rental Property Investor 路 Columbia, SC 路 Member since 2020 路 245 posts 路 275 votes
    5y

    I didn't buy a dog-gone thing :(.  My goal was to buy 2 properties, but I had to wait until after we closed on our primary residence in August, our new baby was born the same month.  After getting settled in the house and adjusting to our baby, I set out on the hunt again in October.

    However, I did submit 5 offers, but none were accepted.  

    1Reply
  • Ryan Copeland
    Rental Property Investor 路 Columbia, SC 路 Member since 2020 路 245 posts 路 275 votes
    5y
    Originally posted by @Dustin Turner:

    I'm in the Little Rock area. In 2019, we bought a bunch of LTRs, but in 2020 we pivoted to Vacation Rentals. We bought 2 houses in Gulf Shores, AL and are about to close on a lake front property in Hot Springs. Super excited about the income potential. We expect these three properties to gross $175,000-180,000 in 2021.  

    Geez!! Can I get a 30 minute 1:1 call with you? 

    1Reply
  • Dustin TurnerBusiness Member
    Real Estate Broker 路 Little Rock and Hot Springs Arkansas 路 Member since 2020 路 55 posts 路 62 votes
    5y
    Originally posted by @Ryan Copeland:
    Originally posted by @Dustin Turner:

    I'm in the Little Rock area. In 2019, we bought a bunch of LTRs, but in 2020 we pivoted to Vacation Rentals. We bought 2 houses in Gulf Shores, AL and are about to close on a lake front property in Hot Springs. Super excited about the income potential. We expect these three properties to gross $175,000-180,000 in 2021.  

    Geez!! Can I get a 30 minute 1:1 call with you? 

    Sure Ryan. Send me a PM and we can schedule a call.  

    0Reply
  • Hadar OrkibiPro Member
    Rental Property Investor 路 USA / NZ 路 Member since 2016 路 1k+ posts 路 812 votes
    5y

    Mobile Home Park, Apartments and Sold 1! 

    0Reply
  • Mario Nunez
    Member since 2020 路 12 posts 路 5 votes
    5y

    @Jennifer Schelkopf

    Love this topic! My goal was to obtain my first property, luckily I put %3 down on a 105k with sellers paying all closing costs, I locked it in at 2.9 interest rate so super stoked on that!

    Front property is 2/1 with 1100sqft and a dining area (currently living in this one)

    Back unit is 1/1 600 sqft soon to be rented out for 650 with me paying only water bill. 鈽猴笍

    Total property value is 114k as it sits, after speaking to appraiser he believes in a year making the back fully live able and front into a 3/2 with masters bedroom and open floor concept it will be worth closer to 140-150k all this with roughly 15k invested into the rehab! 馃檹馃徑馃檹馃徑

    2Reply
  • Jonathan Soto
    Lender 路 Newark, NJ 路 Member since 2016 路 695 posts 路 252 votes
    5y

    utilized fha once again to purchase another multi and bought personal single family for the family which is currently under construction. helped a lot of families purchase multi and single on the agent and lender side as i have both my license. looking to  double the portfolio next year.

    0Reply
  • Jamaal Gibbs
    Denver, CO 路 Member since 2016 路 50 posts 路 25 votes
    5y

    Bought a SFH in an area 10 mins from downtown Denver. 4 bed 1 bath about 1,700 sq ft with a 2 car and 2 space carport. Cosmetic remodel and added a new roof. Bought mid August, rehab took about 7 weeks and listed end of October. Took another 7 weeks to get under contract which was longer than wanted but still a solid deal for me overall!

    Purchase 285k

    Rehab 59k

    Sold for 415k

    2Reply
  • Jeoffrey McCalla
    Investor 路 Northwest Arkansas 路 Member since 2020 路 8 posts 路 2 votes
    5y

    Me and my wife were able to purchase our first rental back in march, also we bought a fix and flip with a family member in the same month! We were able to sell the fix and flip in June of this year! Me and my wife were then able to purchase our first duplex in July. We are currently doing another fix and flip and a BRRRR. Also, We have another single family home brand new construction under contract and set to close in 2021!

    1Reply
  • Brock Mogensen
    Real Estate Syndicator 路 Milwaukee, WI 路 Member since 2018 路 1k+ posts 路 907 votes
    5y

    We bough several deals this year, which ended up being in multiple asset classes. Office, retail, industrial, and multifamily.  Going forward multifamily, industrial, and self storage are asset classes that I am going to focus on.

    1Reply
  • Jason Runkel
    Realtor 路 Racine, WI 路 Member since 2019 路 30 posts 路 9 votes
    5y

    Congrats everyone on all of your success in 2020!

    I bought my first duplex in April of this year.

    It is a house hack deal cash flowing $300 or about 18%.

    A business partner and I also bought a duplex via land contract, and bought a flip in October of this year.

    The duplex is currently cash flowing about $400 or about 19% and the flip is scheduled to be completed in about three weeks, turned around in roughly 3 months.

    Looking forward to keeping the ball rolling in 2021 馃槑

    1Reply
  • Fabian Wizenfeld
    Member since 2018 路 19 posts 路 5 votes
    5y

    Closed on a 4plex in January of the MLS, had to evict 3 tenants and covid happened! After some negotiation we ended up doing cash for keys. Have been rehabbing the place one unit at a time.

    SFR of the MLS in March and did a BRRRR on it.

    Looking to acquire more :)

    3Reply
  • Arta Montero
    Member since 2019 路 182 posts 路 45 votes
    5y

    @Andrew Zannotti wondering where you purchased all these and are these out of state?

    0Reply
  • Arta Montero
    Member since 2019 路 182 posts 路 45 votes
    5y

    @Dennis Wayne wondering where you purchased and if that is local or out of state

    0Reply
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