What is your best deal ever???

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Tyler AndersonPro Member
Investor · Edina, MN · Member since 2017 · 18 posts · 17 votes
9y
I bought a duplex for $56,000 that I never saw. Two months after owning it the home burned down. Thankfully no one was hurt. I got $190,000 in insurance money, 6 months rent and ended up selling the lot. Pretty good return for a few months of "work".
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  • Tyler AndersonPro Member
    Investor · Edina, MN · Member since 2017 · 18 posts · 17 votes
    9y
    I bought a duplex for $56,000 that I never saw. Two months after owning it the home burned down. Thankfully no one was hurt. I got $190,000 in insurance money, 6 months rent and ended up selling the lot. Pretty good return for a few months of "work".
    8Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    9y

    Purchased lot for 100K, 10K down, 300/month principal only. Sold 1 year later for 160K. Total cost legal and taxes 4K. 

    1Reply
  • Sanjeev Advani
    OP
    Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
    8y

    @Tyler Anderson and @Thomas S.  where was your purchase?

    0Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    8y

    Ontario Canada.

    Numbers may vary by location but deals are available everywhere.

    0Reply
  • Sanjeev Advani
    OP
    Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
    8y

    @Thomas S. what is the average price range and return available in the area? 

    0Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    8y

    Bought a townhouse for $350k in 18 months sold it for $480    Net proceeds about $100k

    1Reply
  • Sanjeev Advani
    OP
    Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
    8y

    @Hai Loc sounds like Ontario is returning pretty good right now.  What are your thoughts? 

    0Reply
  • Sarah Larbi
    Rental Property Investor · Oakville/ Brantford, Ontario · Member since 2015 · 147 posts · 91 votes
    8y
    Bought a 4 bedroom house in brantford for 165k and 14 months later got it appraised for 232k and only put in 5k of work
    1Reply
  • Sanjeev Advani
    OP
    Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
    8y

    The numbers in Ontario sound very good.  Have they risen to the point where the returns are now back to normal, or are there still good deals in the area? 

    0Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    8y
    Originally posted by @Sanjeev Advani:

    @Hai Loc sounds like Ontario is returning pretty good right now.  What are your thoughts? 

    this transaction took place 2 years ago..  that time was nice yes..  I coulda waited a bit longer but who knows.. A lot of people who bought earlier this year are crying right now..

    0Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    8y

    My best was my recent 9 unit property in Berwyn. My partner and I bought it for 56k per door, and market price per door is 75k! We have improved the rents by almost $1,000 per month, and we are going to increase the value by a quarter million dollars in one year. 

    0Reply
  • Bobby Montagne
    Fairfax, VA · Member since 2016 · 164 posts · 54 votes
    8y

    We made loans on many deals were borrower flipped property in 120 days returning almost 100% cash on cash return. The annualized cash on cash return exceeded 300%!

    0Reply
  • Khurram Samana
    Real Estate Agent · Hollywood, FL · Member since 2014 · 1 post · 2 votes
    8y

    Got a duplex under contract in Miami, flipped in few hours, 8k in my pocket, never saw the property.

    Thanks to Biggerpockets

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    A few in different asset class

    Land and timber.. =  200 acres Washington county ORegon  paid 1.8  got timber advance at 1.7 with no points or interest.. ended up in the land 100k  sold lots 4 lots for 125k each . then sold the remaining 160 for 1.5 million to Metro for a park.. Sans tree's.

    Foreclosure... bought court house step for 125k.. house was human tragedy to much to explain.. the lady who lost it though owned the 4 acres behind it.. I traded her the house and 150k for the 4 acres.

    Most guys in this bizz would have kicked her out no matter her human tragedy and flipped it and made the 50k I was thinking I would make.. but I new something about land use and development so I made the deal plus I paid cash so no lender to appease.

    Sold 4 acres 7 months later to a developer for 925k cash.. so nice pay day on that one in less than a year.

    Land in Path of progress:  4 acres Rohnert Park CA:  bought for 27k in 1994 cash unbuildable.. city expands its now in the city and zoned high density residential on the market for 3 mil but I will be happy with 2 million.. net profit 1.950.000 when it finally cooks off Maybe 2.9 and now with the fires we are looking at building it ourselves and keeping it ( which is not my business).. but of course no cash flow.. but oh well 27k for 2 to 3 million 20 years later I will take it.

    Other land in path of progress:  110 Washington county Oregon silicon Forest.. optioned it for 5.5 million

    put 250k down and been paying 125k a year in option fee's since 09.. all credit towards purchase price.

    So no interest carry.. but no deduction either ..

    when it comes into the city value about 60 million.. again no cash flow but who cares.. LOL

    New construction  my best margins have been Charleston SC  were margins on new construction have been in the 20 to 30% of gross which is un heard of in the PDX market were my margins here are 15% on a good day  20% on a great day.. but we do 30 a year.

    So all good now.. of course we have our short term financing product that cooks off like the post above with some in the 200 to 300% range when you get an early payoff.. but most average in the 25 to 30% aprs.. pretty common for early payoffs.

    Podcast Guest on Show #222
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    6Reply
  • Ryan Horne
    Rental Property Investor · Smyrna, GA · Member since 2016 · 86 posts · 27 votes
    8y

    Still pretty new but completing my first solo wholesale deal tomorrow. Seller contacted me off of a mailer interested in selling his property for $125k. Noticed significant new build development around the property so called one of the active developers working in the area. They agreed to pay $136k. Making $11k with no money in the deal except for my marketing costs. Closing tomorrow! No home run but a solid first solo deal.

    1Reply
  • Account Closed
    Investor · San Francisco, CA · Member since 2017 · 41 posts · 20 votes
    8y
    So, we(the whole family) leased a castle for fifteen years, in UK. It has 45 suites inside. The land has 25 "huts" outdoor. We put in a Hotel Manager. Furnished the whole place up and got 5 star accreditation. We're pocketing a mil a year, after all the expenses. The lease needed 5 years of rent upfront. We needed high quality furniture and needed to put in a super big management team. Initial costs were 40mil. We got our capital back, just 5 years into it. We're going under renovations, but it's still making money.
    2Reply
  • Austin Fruechting
    Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
    8y

    I made nearly 1/2 Million in equity the day I closed on a 22 unit deal I just bought (12 homes& 5 duplexes). Purchased at $790k appraised for $1,264,725, and I am going to add value too (~200k work). Rents should be about $18,600 when complete and ~$1.55mil value. I'll refinance it at 70% LTV for $1,085,000

    My 32 unit deal I did in June was a really solid deal too. Purchased at $1,062,000, appraised for $1,390,000. After we finish adding value (~$180k) it will bring in about $24k a month in gross rents and be worth around 1.75-1.8mil. 

    4Reply
  • Phil Morris
    Cincinnati, OH · Member since 2017 · 6 posts · 3 votes
    8y

    @Austin Fruechting your deals are killer.

    Love your blog. Are these units that you package up from separate sellers, or from individual sellers that you buy from in bulk?

    0Reply
  • Austin Fruechting
    Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
    8y
    Originally posted by @Phil Morris:

    @Austin Fruechting your deals are killer.

    Love your blog. Are these units that you package up from separate sellers, or from individual sellers that you buy from in bulk?

     Thanks man! Each package has been from an individual seller.

    1Reply
  • Evan Bellingar
    Investor · Newberg, OR · Member since 2016 · 90 posts · 19 votes
    8y
    Originally posted by @Jay Hinrichs:

    A few in different asset class

    Land and timber.. =  200 acres Washington county ORegon  paid 1.8  got timber advance at 1.7 with no points or interest.. ended up in the land 100k  sold lots 4 lots for 125k each . then sold the remaining 160 for 1.5 million to Metro for a park.. Sans tree's.

    Foreclosure... bought court house step for 125k.. house was human tragedy to much to explain.. the lady who lost it though owned the 4 acres behind it.. I traded her the house and 150k for the 4 acres.

    Most guys in this bizz would have kicked her out no matter her human tragedy and flipped it and made the 50k I was thinking I would make.. but I new something about land use and development so I made the deal plus I paid cash so no lender to appease.

    Sold 4 acres 7 months later to a developer for 925k cash.. so nice pay day on that one in less than a year.

    Land in Path of progress:  4 acres Rohnert Park CA:  bought for 27k in 1994 cash unbuildable.. city expands its now in the city and zoned high density residential on the market for 3 mil but I will be happy with 2 million.. net profit 1.950.000 when it finally cooks off Maybe 2.9 and now with the fires we are looking at building it ourselves and keeping it ( which is not my business).. but of course no cash flow.. but oh well 27k for 2 to 3 million 20 years later I will take it.

    Other land in path of progress:  110 Washington county Oregon silicon Forest.. optioned it for 5.5 million

    put 250k down and been paying 125k a year in option fee's since 09.. all credit towards purchase price.

    So no interest carry.. but no deduction either ..

    when it comes into the city value about 60 million.. again no cash flow but who cares.. LOL

    New construction  my best margins have been Charleston SC  were margins on new construction have been in the 20 to 30% of gross which is un heard of in the PDX market were my margins here are 15% on a good day  20% on a great day.. but we do 30 a year.

    So all good now.. of course we have our short term financing product that cooks off like the post above with some in the 200 to 300% range when you get an early payoff.. but most average in the 25 to 30% aprs.. pretty common for early payoffs.

     @jay hinrichs  those stories merit their own podcast! 

    0Reply
  • John Ma
    Investor · Arlington, VA · Member since 2014 · 151 posts · 37 votes
    8y

    900k ARV house at 600k, with 30k repairs.

    it was a super sick deal that i went ahead and got funding for it to close on it.

    1Reply
  • Marques J.Pro Member
    Rental Property Investor · Medford, OR · Member since 2016 · 70 posts · 27 votes
    8y

    Best Equity

    89k purchase for 4 bed 1 bath in Medford Oregon.  First walk through I found the house burned heavily in 1987 and rebuilt to new code minus some plumbing and kitchen (probate had no idea). New roof system with trusses, New drywall, insulation, HVAC with ducting, wired smoke and CO in a cool 40's cottage all completed already.  Worth 195k-205k in less 1 year.  15k rehab I spent.     Rents for 1330 a month.    100k rough in equity, it made money monthly day 1 even with 12% private money loan before refi. 

    Best easy money

    Cashflow day 1. Empty lot in Medford OR with a 900 Sq ft shop. Purchased for 55k owner carry and rented shop for 900 a month day 1. Payment is 230 mo. Next I will build the rental unit that will rent for 1300-1600.   No water or sewer on property. No maintenance at all minus deferred.

    Best Flip

    91k Purchase 4/2017   Sold 199k full price offer in 6 days 9/2017 in Grants Pass OR

    0Reply
  • Jim Goebel
    Real Estate Investor · Des Moines, IA · Member since 2016 · 922 posts · 533 votes
    8y

    for cash flow

    bought house for 36k cash

    put 8k into it and 2 months of my life, actually right before getting married.

    has rented for $1300/mo since that time

    26% return cash on cash

    somewhere in the 40-60% return on equity range depending on house value

    beautiful house, amazing location in des moines, but not an equity winner because of some people's perceptions of the neighborhood

    0Reply
  • Jason Rodriguez
    Brooklyn, NY · Member since 2017 · 22 posts · 7 votes
    8y
    Originally posted by @Ryan Horne:

    Still pretty new but completing my first solo wholesale deal tomorrow. Seller contacted me off of a mailer interested in selling his property for $125k. Noticed significant new build development around the property so called one of the active developers working in the area. They agreed to pay $136k. Making $11k with no money in the deal except for my marketing costs. Closing tomorrow! No home run but a solid first solo deal.

    Was this sort of like a bird dogging deal, where you didn't need to do anything but find it and tell the buyer about it?

    0Reply
  • Ryan Horne
    Rental Property Investor · Smyrna, GA · Member since 2016 · 86 posts · 27 votes
    8y

    @Jason Rodriguez No this was a typical wholesale deal. I put the property under contract and assigned to the end buyer.

    0Reply
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