All Forum Posts by: Adriese Williams

Keep going!, niche down to a geographical area with less competition, sub markets, 2 hour radius from where you live. switch up your scripts, be creative! How bad do you really want to be a real estate investor? Also consider coaching.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $49,780
Cash invested: $49,780
Sale price: $60,000

Wholesale deal, found driving for dollars, 3/2 or 4/2 with upstairs area, New roof and newer HVAC. Negotiated with seller directly, paid their closing cost of seller to seal deal. Sold to another investor cash, netted $9647

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

Price, was in area negotiating other deals and drove by with a for sale by owner sign in yard. Called owner immediately

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

Driving for dollars, called owner who had a for sale by owner sign in yard.

How did you finance this deal?

Using my funds, I knew I could sell quickly for a nice profit!

How did you add value to the deal?

Put a lock box on the door and had prospective buyers show it themselves.

What was the outcome?

Sold within 30 days for cash and asking price.

Lessons learned? Challenges?

Need to learn real estate spanish, would have made by buyer less apprehensive

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Trimnal and Myers Closing atty, Lancaster, sc

Should have been flagged, I know there are no perfect tenants, but I hope your PM did most of the heavy lifting in evicting and getting you another tenant?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Jackson.

Purchase price: $55,000
Cash invested: $25,000

Huge Triplex, 2nd out of state property investment! 3 units ( 3/1, 2/2, 2/1) One unit already rehabbed, just got a tenant in place. 2nd unit inherited a tenant, 3rd unit awaiting rehab. Should cash flow over 2k per month.

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

Price, A multifamily for less than 60K with 1 unit already renovated!

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

MLS, targeting rental friendly markets

How did you finance this deal?

Cash and a college buddy partner

How did you add value to the deal?

Renovating 2 units

What was the outcome?

Plan on having all 3 units occupied by early 2022, Will refi-cash out and buy some more property and pay down some debt.

Lessons learned? Challenges?

State of Mississippi, city of Jackson, enough said, but a lot of potential and opportunity from what I can tell. Took a visit and will buy more property there.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Local Real estate agent

Investment Info:

Mobile home buy & hold investment.

Purchase price: $36,000
Cash invested: $12,000

Borrowed $30,000 from private investor, 12% interest annually. Exit strategy, refi and repay private investor.
Acquired via HUD auction. 3/2 ,1700 sq ft, 1/4 acre lot. rehabbed, crawl space with vapor barrier, new flooring, HVAC, bathroom fixtures, paint and doors. Got a college student for a tenant, (SC State), Father paid 6 months up front + security deposit, for a total of 7k. Rent $1,000 per month.

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

First buy and hold out of state, college town, looking for new markets, I love mobiles!

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

HUD online auction

How did you finance this deal?

Private Investor, a little of my own money

How did you add value to the deal?

Rehabbed, new floors, paint, HVAC, bathroom vanity, appliances

What was the outcome?

Rented to college student, dad paid 6 months up front!

Lessons learned? Challenges?

Currently looking for more deals in Orangeburg, SC

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Middleton agency in orangeburg handled the sale from HUD

Just bought a triplex in 39212

I'm a out of state investor and this is my first in Jackson.

Anyone know a good property manager and handyman/woman?

Thanks

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Fayetteville.

Purchase price: $44,000
Cash invested: $50,000

Converting a 4/2 into a duplex (2/1 each side)
Medium rehab, most challenging aspect is separating the utilities, should rent $750-800 per side.

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

Potential to make multifamily

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

MLS, agent

How did you finance this deal?

Hard money, long-term loan

How did you add value to the deal?

Making it into a duplex

What was the outcome?

Duplex fully renovated 2/1 $750-800 per month each side

Lessons learned? Challenges?

Separating the utilities

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes worked with a local agent in Fayetteville. Lima one for money

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $180,000
Sale price: $289,000

3/2 on 1/2 acre in Southern Durham 27713

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

Right zip code, little damage

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

driving for dollars, seller financing, seller wanted to move to DC, made no repairs, offered 180K, 75K down 2 year balloon for balance of 105K monthly note 525.00

How did you finance this deal?

Partnered with a college buddy,

How did you add value to the deal?

offered 180K as is, house had tenants

What was the outcome?

Sold to an ibuyer ( opendoor) 289K Walked away with 150K after payoff and repair credit, fees.
We both double our investments in 2 months

Lessons learned? Challenges?

Keep driving for dollars, call all for sale by owner signs

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

none

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $52,000
Cash invested: $38,000

4/1 converted into a 3/2, close to Fayetteville State University, currently rented

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

price, close to university

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

Agent,MLS, a little negotiation

How did you finance this deal?

Hard money

How did you add value to the deal?

4/1 converted into a 3/2, new roof, paint, full rehab

What was the outcome?

Rented tenant in place

Lessons learned? Challenges?

Plumbing inspection before closing, had to replace sewer pipe after tenant in place.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Sparkle Bass fayetteville,NC agent, Lima One

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $35,000

2/1 close to downtown, transportation, Major highways, 30 mins to Durham, 20 mins to greensboro
Big back yard, completed rehabbed.

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

It was right next door to my triplex

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

My property manger knew the owner, it had been vacant for 1 yr

How did you finance this deal?

Lima One, Private invester

How did you add value to the deal?

Complete rehab, paint, roof, floors cabinets, appliances

What was the outcome?

About to rent it out 850-900 per month

Lessons learned? Challenges?

weather delayed, contractor was traveling from out of town

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lima One