All Forum Posts by: Alec Anderson

Investment Info:

Single-family residence wholesale investment.

Purchase price: $27,000
Sale price: $31,000

The buyer got 2 or 3 lots out of it and built 2 new homes

Lessons learned? Challenges?

Lots of drama with the seller who was a little crazy, funny now but was pretty stressful to deal with at the time

Investment Info:

Single-family residence wholesale investment.

Purchase price: $5,000
Sale price: $13,000

Small 1 bedroom house in a nicer part of a mediocre area. Needed a full rehab

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $51,000
Cash invested: $54,000
Sale price: $170,000

This was right down the street from my first flip, the family was selling because the owner had passed away recently

How did you finance this deal?

Built up the cash to be able to self finance this one

Lessons learned? Challenges?

Got burned by a contractor but ended up finding another that is now my current business partner

Investment Info:

Mobile home wholesale investment.

Purchase price: $12,000
Sale price: $17,500

This was a teardown mobile home on 2 acres

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $45,000
Sale price: $165,000

Started out trying to wholesale this one and found a good partner who was interested in flipping it with me. We ended up gutting the whole thing and even doing a small addition. Learned a lot and quit my W2 job to take this one on full time.

How did you finance this deal?

Owner finance on the purchase, cash on the rehab

How did you add value to the deal?

Did all the work with a partner to save labor costs

Investment Info:

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

Purchase price: $80,000
Cash invested: $30,000
Sale price: $137,000

Bought with one unit needing rehab. Ended up rehabbing that unit and had the tenants move into it and rehabbed their side as well

How did you finance this deal?

Subject-to and cash for rehab

What was the outcome?

Ended up selling to a friend who was looking for a duplex in the area, as I was looking to put the money into another deal

Investment Info:

Single-family residence wholesale investment.

Purchase price: $22,000
Sale price: $35,000

First true wholesale, out of state wholesaler brought the deal and I found the buyer

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

Wholesaler reached out to me from a craigslist ad I posted about buying houses

How did you add value to the deal?

I knew the area, inspected the house and brought a buyer

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $161,000
Cash invested: $30,000
Sale price: $245,000

First subject-to property. Was all cosmetic work but the basement did flood after we listed it, which ended up hurting our budget.

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

Found on Facebook

How did you finance this deal?

The seller mentioned just wanting the loan paid off as purchase price. I partnered with a more experienced investor who knew how to structure subject-to deals and we bought it with minimal money down, only closing costs.

How did you add value to the deal?

I brought the deal and most of the rehab money to a partner with more experience and we both made money

Investment Info:

Single-family residence wholesale investment.

Purchase price: $18,000
Sale price: $35,000

Bought it off market and listed on the MLS as-is

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

I put an ad on Facebook and the seller reached out to me about selling it

How did you finance this deal?

cash

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $85,000
Cash invested: $20,000
Sale price: $195,000

First property, bought as a house hack. Ended up moving to Chattanooga and rented it out a few years, sold it when tenants moved out

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

Wanted something that would make a good rental without major repairs needed

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

It was bought on Hubzu

How did you finance this deal?

5% down conventional mortgage, used 401k funds to pay down payment

How did you add value to the deal?

Did a lot of the work myself

What was the outcome?

Great rental for a few years and great profit to reinvest into other deals once it was sold.