All Forum Posts by: Aaron Haynes

Hello, my name is Aaron Haynes. I currently have 2.5 rental SFR here in New Mexico that I also manage. 2 of these were foreclosures that I was essentially much of the labor and the project manager for. I recently graduated pharmacy school and am working as a pharmacist. I specifically requested to work part-time when I got hired to make room for other interests such as real-estate which is a passion of mine. I'm open for any good deal. I've been doing a bunch of research on multi-family, AirBnB and off-market properties. I'm looking to connect with anyone that I could contribute value to. I've listened to almost 100 of the BiggerPockets podcasts, I've read a few real-estate books. I'm ready to move on to the next project

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000
Cash invested: $137,000

I found this foreclosure and an investor to help purchase it. The house needed a ton of work which I helped do and managed the rehab for another $12,000. Home currently has a value of $230,00 on Zillow.

What made you interested in investing in this type of deal?

I had some time and some knowledge.

How did you find this deal and how did you negotiate it?

I found this foreclosure online and found an investor who could make an all-cash offer.

How did you finance this deal?

Private investor

How did you add value to the deal?

I found the deal. I then was the driver of getting the place from foreclosure to rented out in less than 3 months.

What was the outcome?

I still have this house. It appraises for much more than we put in. It cash flows and hasn't ever been vacant for more than 5 days since we put it up for rent.

Lessons learned? Challenges?

I learned how difficult the process of being a project manager can be as far as timing contractors, laborers, utilities, and all of the work that needed to be done. It was foreclosed for 2 years. The doors had all been kicked in at one point or another. There was spray paint on the walls, no appliances, holes in walls where copper piping was taken. I got it from that to ready to rent for $12,000 + my labor in 3 months.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $10,000

This home my wife and I bought when we were getting married and started a family here. We lived here for 11 years.

What made you interested in investing in this type of deal?

We wanted a house.

How did you find this deal and how did you negotiate it?

Honestly we just found a home that needed a tiny bit of work that was in a good location and suited our needs.

How did you finance this deal?

Traditional financing.

What was the outcome?

We now rent this home out.

Investment Info:

Single-family residence buy & hold investment in Socorro.

Purchase price: $85,000

My first home that I found as a foreclosure. I fixed it up, refinanced with sweat equity to get rid of PMI. I then house-hacked it renting to a friend for a couple years before I moved out. I currently make about $200/month on this home.

What made you interested in investing in this type of deal?

I was 23 and thought it'd be cool to already own a home.

How did you find this deal and how did you negotiate it?

I drove around looking at foreclosures in my small college town.

How did you finance this deal?

That was back when the banks were handing out money with almost no questions asked.

How did you add value to the deal?

I fixed it up and had more than 20% equity within 3 months to get rid of the PMI.

What was the outcome?

Still have the home.