Updated almost 2 years ago on .
Mortgage Millennial Investor
Investment Info:
Single-family residence fix & flip investment.
Personally flipped 3 properties this year. Projections: Purchase 4 buy & hold properties and 4 Fix & flip properties per year.
What made you interested in investing in this type of deal?
The NUMBERS. I am open to ALL investment opportunites as long as the numbers work. Where else can you get this kind of return on investment?
How did you find this deal and how did you negotiate it?
I opperate a family owned investment company and recevied distressed home owner leads of which we were able to bail them out with a cash offer and quickly turn the property.
How did you finance this deal?
Home Equity line. I although I am a mortgage lending professional, I am a firm believer in "BYOB" (BE YOUR OWN BANK). The initial investment was made via cash from an equity line and to pay myself back I sought out DSCR refi or Hard money. Rinse and repeat.
How did you add value to the deal?
I truly care, being part of the lending industry I never want to see anyone struggle with finances. Savings these distressed sellers allowed them to keep their credit in tact and they will be ale to purchase another home with a mortgage loan in the future. I never give advise I would not/ have not personally taken myself.
What was the outcome?
I was able to counsel the home owner on their credit, and help them move on to the next phase of their lives all while doing what I love and making money in real estate.
Lessons learned? Challenges?
Compassion goes a long way, and savy/ successful investors are buying in any market climate as long as the numbers jive.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
yes and I would love to throw out some referrals via DM!