All Forum Posts by: Abram A Antonucci

I am a local Montana agent, looking for some fix and flips, if you have anything? 

Investment Info:

Townhouse fix & flip investment.

Purchase price: $240,000
Cash invested: $80,000
Sale price: $405,000

Purchased an ugly townhouse and made it an awesome place.

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

It was a listing appointment and the house was too poor of condition for me to put in the MLS so I made her an offer and purchased the property.

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

It was lead from my real estate business. Negotiations took several months. She could not find anyone to fix up the property without spending a least $100K.

How did you finance this deal?

Local bank

How did you add value to the deal?

removed 4 slide off dumpsters of junk, exterior paint, interior paint, flooring, cabinets, countertops, front door and and finished the garage. Added a mini split heat pump and staged the home.

What was the outcome?

Sold in less than a week.

Lessons learned? Challenges?

Sometimes you have to do the work yourself and cant rely on contractors timelines or budgets.

Investment Info:

Large multi-family (5+ units) fix & flip investment in Lewiston.

Purchase price: $125,000
Cash invested: $12,500
Sale price: $185,000

6 plex fixed and held

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

It was an owner financed with a high cap rate

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

Craigslist, negoitated using an investment company whom held the note

How did you finance this deal?

Cash owner financed

How did you add value to the deal?

remodeled the units and roof

What was the outcome?

Made some money and got my feet wer

Lessons learned? Challenges?

Too many to list

I sell real estate in MT but would like to look at properties this summer in other states.  I would assume that will be considered essental business?  Thoughts??

I sell real estate in MT but would like to look at properties this summer in other states.  I would assume that will be considered essental business?  Thoughts??