All Forum Posts by: Anthoney Hanks

@Taniele Clarke Welcome to BiggerPockets. Happy to see you get started!!

@Alex S. Hello, Nice to meet you!!

@Christopher Dargin Hello, Nice to meet you!!

@Kristy Stevko Hello, Nice to meet you!!

Thank you. What would a lender like to know in the form of a presentation? CMA?

I would like some feedback from my theory on finding potential rental properties based on 1% rule in the MLS. My steps:

1) Find location of desired rental property

2) Run a quick CMA of leased properties to get an average $/sq ft rent.

3) Run a quick CMA of active properties in the same location.

4) From the list, multiple the sq. ft *  avg leased $/sq ft for potential rent.

5) If 1% of the property's listing price is less that the above (#4), then this could be a potential property.

Any thoughts on this approach?

Good evening. I am looking for recommendation for a hard money or private lender in Dallas area. I have found a property that I would like to pursue as a BRRR strategy. I believe the ARV to be S220K-S225K. The repair cost is estimated at $50K. Any help would be appreciated.

@Michael Masterson Congratulations!! Great to get that much cash flow!!

I live in the Forney area. Are there any events the south or east Dallas area. I have thought about attending the Dallas REIA (http://reiadallas.com) event, but wonder if it would be worth it. Anyone attend the meeting regularly? Any thoughts?

Investment Info:

Single-family residence fix & flip investment in Wills Point.

Purchase price: $30,000
Cash invested: $85,000

My first flip.

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

The challenge and being something I could buy.

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

Driving around in that neighborhood.

How did you finance this deal?

IRA, Stocks, Credit Card, Cash from my RE commissions

How did you add value to the deal?

Totally renovated it. Everything but the shell.

What was the outcome?

About to finish it soon.

Lessons learned? Challenges?

Do not be soft hearted and cheap. I was trying to help someone down on there luck. But it the end, it did not turn out good for me. Do a better job of estimating the cost.

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

I am a real estate agent.