All Forum Posts by: Annette Weiss

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $23,000
Cash invested: $2,000
Sale price: $70,000

Cute 1 bd/1ba bungalow.

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

Excellent long term rental opportunity

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

Found it on zillow

How did you finance this deal?

Used HELOC from my primary residence. This was my very first rental property.

How did you add value to the deal?

I had a tenant ready to rent prior to the home sale.

What was the outcome?

The home had very little mtnc needed. New hot water heater, but overall, the home paid for itself in rents two times, and then upon the sale, tripled the investment.

Lessons learned? Challenges?

Advisable to do a walk through and property walk once a year when you have a long term tenant.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Sale price: $135,450

SFH built in 1920 by a logger. Solid home, updated in the 1980's.

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

Very solid structure, well kept

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

Rebuilt a front porch for owners. They were going to list it for sale due to parents passing, and they did not live in the area. Offered to take it off their hands.

How did you finance this deal?

HELOC

How did you add value to the deal?

Repoured some of the concrete on the back porch, yard clean up/paint/new toilet

What was the outcome?

LTR for two years and then sold when the market shifted.

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

Self

Thank you, Syed. At the time of purchase for each owner after original conversion, it was not an issue. Due to STR's gaining popularity in the area, the new faces on the board were getting very particular and analyzing every property with more than one garbage can and mailbox.

Investment Info:

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

Purchase price: $70,000
Cash invested: $25,000
Sale price: $235,000

Duplex was a long term rental. After rehab, 2 STR's.

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

The price point, and the lack of housing in the ara.

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

Zillow.

How did you finance this deal?

Heloc

How did you add value to the deal?

New flooring/paint/toilets/private fence/lighting/rubber roofing

What was the outcome?

Excellent profit

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $50,000

Great side income for my former family home!

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

It was a great investment and had room for value add.

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

This property was owned by an elderly person who had passed, and we offered to purchase it as is from the members of the family so they would not need to coordinate rehabbing prior to being able to list it for sale. They had agreed to the sale price of $40K.

How did you finance this deal?

Bank loan

How did you add value to the deal?

Put on an addition with a primary bedroom & private 3/4 bath and also a large family bathroom, insulation, drywall, flooring, windows, privacy fence, tore down dilapidated garage. Poured a new concrete front porch, added a deck off of the back of the house.

What was the outcome?

It has been a cash flowing STR for the last 7 years.

Investment Info:

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

Purchase price: $70,000
Cash invested: $15,000
Sale price: $155,000

This was a great ROI, starting as a buy and hold, netting $1500/mthly. Net profit on sale: $93,000.

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

One property Tax, 3 doors

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

Through an investor friend

How did you finance this deal?

Business line of Credit

How did you add value to the deal?

Converted to Triplex from duplex, new flooring throughout, appliances/windows/toilets/vanities

What was the outcome?

full occupancy, excellent cash flow

Lessons learned? Challenges?

Zoning enforcement! We were going to be forced to convert the triplex back to a SFH after it being a multi family for over 30 years, due to newly inducted city board members who were unable to obtain proof of permits for changes made from any of the several prior owners between the 1980-1990's. Sold before the enforcement was effective.

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

Myself!

Investment Info:

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

Purchase price: $70,000
Cash invested: $15,000
Sale price: $155,000

This was a great ROI, starting as a buy and hold, netting $1500/mthly. Net profit on sale: $93,000.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $32,000
Cash invested: $15,000
Sale price: $86,000

Single family home in need of TLC~

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

This had value add, and the price was negotiable

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

From an investor friend

How did you finance this deal?

Business line of credit from another rental property

How did you add value to the deal?

New flooring/paint/fixtures/doors/deck

What was the outcome?

BRRR-Rented out for one year, then sold

Investment Info:

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

Purchase price: $70,000
Cash invested: $15,000
Sale price: $155,000

This was a great ROI, starting as a buy and hold, netting $1500/mthly. Net profit on sale: $93,000.

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

The cash on cash analysis was excellent, and there was plenty of value ad in the property.

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

Through a network of investors.

How did you finance this deal?

commercial loan

How did you add value to the deal?

New Flooring, toilets, windows where necessary, paint, kitchen cabinets/countertop rehab

What was the outcome?

This property was a good investment property both for a buy and hold, and a resale.

Lessons learned? Challenges?

The lesson learned on this particular property, was that due diligence of proper zoning and special use permits if necessary.