All Forum Posts by: Adam Slipher

@Cody Kayser I landed my first flip from an absentee, high-equity list mailing. The woman living there had taken over her mother's property and wasn't maintaining it. She just wanted to get out of the home and move into a rental with her son. It ended up being a great first flip with an excellent contractor and profit! Best of luck on yours. Actually... I have a couple under contract right now that you may want to take a stab at: One in Greenfield and one in Pleasant Prairie. Message me for details :)

This will be an excellent event to attend for anyone looking to invest in Southeastern Wisconsin! This young couple is doing all the right things on their first flip. The format will be very open and candid, with some seasoned investors there too. Looking forward to a great turn out!

Thanks @Maximilian Glodde ! I'm making an effort to contribute more around here :)

Investment Info:

Single-family residence fix & flip investment in Wauwatosa.

Purchase price: $162,000
Cash invested: $62,000
Sale price: $315,000

This was a FSBO where the seller didn't want to or have the means to update the property. He was looking to move with and simply sell quickly, so we helped him out. After creating the scope, our designer went to work creating a knockout home that played into the midcentury era of construction. Within two days of listing, we had multiple offers and settled on an offer that was $15k over-asking price. This was both a beautiful home and a great example of flipping at its finest :)

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

It had all the makings of an all-around win: the area was right, the numbers were good, the seller was helped, the buyer got a fantastic home. Our process is spot-on!

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

FSBO. Our Director of Acquisitions did an amazing job, as always.

How did you finance this deal?

Private money.

How did you add value to the deal?

We knew the area and have a firm grasp on what buyers want.

Investment Info:

Single-family residence fix & flip investment in Wauwatosa.

Purchase price: $162,000
Cash invested: $62,000
Sale price: $315,000

This was a FSBO where the seller didn't want to or have the means to update the property. He was looking to move with his son and simply sell quickly, so we helped him out. The home was in a great neighborhood and mainly needed cosmetic repairs. After creating the scope, our designer went to work creating a knockout home that played into the midcentury era of construction. Within two days of listing, we had multiple offers and settled on an offer that was $15k over-asking price. This was both a beautiful home and a great example of flipping at its finest :)

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

It had all the makings of an all-around win: the area was right, the numbers were good, the seller was helped, the buyer got a fantastic home. Our process is spot-on!

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

FSBO. Our Director of Acquisitions did an amazing job, as always.

How did you finance this deal?

Private money.

How did you add value to the deal?

We knew the area and have a firm grasp on what buyers want.

Congrats on your decision to change your life through REI, Michael! One of the best moments of my life was when I made a conscious decision to start building my family's future through real estate. Although it was a complete departure from my day job, real estate remains something I love and am passionate about, mainly because of the purpose that lies behind it: freedom, family and helping others!

I'm glad to see you're memorializing it too by posting here! Congrats and all the best!

Kenosha/Racine Wisconsin is strong. We're currently selling a turnkey in our portfolio if you're interested. A bit over $100k though at $140k. Rent at $1395/mo.

We are selling off one of our fully-renovated turnkey rentals with great tenants! Add this to your portfolio today. The house is in excellent shape since our renovation last winter. The Kenosha and Racine area is only going up in value with the business expansion of Foxconn, Amazon, Uline, etc. Hurry up and buy this off-market before we list it!

Anyone looking for a flip in the Racine area? We've got a nice one under contract and are looking for cash buyers. ARV is solid at $150k. Click the link below for more information and pics.

Racine Flip Opportunity

Sorry to hear of the troubles. Definitely a learning curve on this one. I can't stress enough the importance of a good property manager. My own 2 cents... Spending time finding more deals, analyzing, networking and marketing will make you more money than any savings you can realize in property managing yourself.