Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
So I just posted my first article for the BiggerPockets blog. After hitting what I'd call a Grand Slam flip that produced a net profit of over $800,000, and at the risk of sounding boastful or as a braggart, I was conflicted whether or not to tell this story.
At the end of the day, I decided to write it because I read a lot of questions from people curious about how deals are found and financed, and what the numbers look like. I also read a lot of comments on this website from people who struggle to build their real estate businesses. In times of doubt, an occasional reminder of why the struggle is worth it can be enormously helpful, or so I'm told. :)
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
13y
Hey Brian Burke - You can call yourself Josh Dorkin if I can split the proceeds of the flip with you. ;)
Guys -- Brian is actually our next guest on the BiggerPockets Podcast and this Thursday, you're going to learn a ton from him. Make sure to check it out!
Multi-family Investor · San Diego, CA · Member since 2011 · 29 posts · 0 votes
13y
Brian, what an inspiring story! I also loved your interview on the pot cast3 and recommended it to many of my friends.
I am curious if you buy brand new or used appliances and HVACs for flipping those units? Where do your company usually buy those appliances from? I would assume you will get a big wholesale discount?
You must have hired a great property manager to improve the vacancy rate from 50% to 97% within 22 month while increased the rent by 16%, especially considering that you are in CA while the property is in Austin TX.
How did you find such great people to work with, From my experience, it's hard to find a great deal. And it's even harder to find the right persons to work with. This deal is definitely a great execution carried out by a great team!