Updated over 3 years ago on . Most recent reply
My 2nd and 3rd Deals
I haven't posted in a couple of days, but I have been busy. I did a deal with Beckstone Partners to purchase a Duplex in Mechanicsburg, Pa. Beckstone is a turnkey provider that specializes in Solo 401K and checkbook IRA investors. They provide everything from buying the properties, rehabbing it, setting up the non-recourse loan, and performing the property management. I was reluctant to do this deal at first, but after speaking with them and making several request from them on the deal, I felt it was a safe purchase. We will see how it turns out.
Last weekend, I went to Wilmington to see some properties from the MLS as well as see the property I already purchased. We meet the tenants and had an inspection done on my first property. I met with another investor that gave me a reference to a contractor, and we had a great time. I met the contractor and I really felt he knew his business. I plan on getting quotes from him to fix up my first purchase (based on the inspection).
I met with my wholesaler, and we negotiated another deal that I am waiting on the contract to sign. So I now have three real estate deals in progress (one purchased, one in contract, and one about to be in contract). Assuming everything goes well, I will have three properties with two of them needing to be rehabbed. I need to get my two new properties rehabbed before I am prepared to purchase anymore properties, but that doesn't mean I am not doing anything. I am looking at some "out of the box" real estate deals. I will provide more details if these opportunities pan out. :-)
Most Popular Reply
I would not invest in Beckstone. The principal (Tim Immel) is the same person who was convicted of fraud in 2019. Robert McKenzie also mentioned this in a previous post on Beckstone.