Realtor · Ocean Springs, MS · Member since 2023 · 4 posts · 2 votes
Share your most unexpected win in real estate investing. Was it a deal that seemed too good to be true, a property with hidden potential, or a creative financing strategy that paid off big time? Let's hear your story and inspire fellow investors with your unique journey!
My first deal ever last year I purchased a two property deal in a single hard money loan. (low value properties -125k for both) Intention was to do a BRRR on both. The first one worked out perfectly. I'm getting about 8% CoC with 11% Return on Equity. The other suprised me. The rehab was about $10k more than anticipated but the post repair appraisal was $70k over my estimated ARV. The CoC and Return on Equity are not great, but now I have $70k of equity I have to figure out how leverage. If I take it out I go negative CoC and Return on Equity is below 2% :( I look at this as good problem to have and consider this a huge success for my very first deal.
Sincere thank you to everyone here. The Bigger Pockets community has been a real help for me in making good decisions
We somehow were able to piece together buying a portfolio of 97 properties. It required the seller wanting to sell to us and decide to be willing to owner finance 75% and coming across a group of siblings looking for a 1031 that we were able to partner with. I wrote about it more here: https://www.biggerpockets.com/blog/2015-10-15-purchased-97-p...