All Forum Posts by: Ashlee Croft

Investment Info:

Condo fix & flip investment in Sun City.

Purchase price: $170,000
Cash invested: $30,000
Sale price: $295,500

This was my first flip that I jumped into with two partners.

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

The numbers seemed good compared to the amount of rehab that needed to be done.

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

I was informed of the deal from two contractors who kindly let me know about it and if i wanted to jump in on it since I was looking to do my first fix and flip.

How did you finance this deal?

I did the hard money loan in my name and purchased the home. I had my two partners split the gap so we all had skin in the game.

What was the outcome?

The outcome of this flip was great. We did net $96,000 that we split three ways on the back end since we split three ways on the front end for the gap funding

Lessons learned? Challenges?

Documentation and paper trails! We didn't sign any agreements. Since they were contractors who flipped. They knew the full detail of what was to be done and it was drafted but of course it changed often. I know for some fixes they used their funds that was not tracked. I financed and we had delays with doing draws as it was all our first time doing it that way. I could have been more involved rehab wise to know the why's to some things. So the next one I did on my own. The are great guys though!

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

Yes, we used a real estate agent name Edith to list the property discounted since I was still working for a new home builder and couldn't sell any real estate outside of them. We used Copa Capital for financing. I feel they are the easiest lender when it comes to draws. No fees, no inspection. They only fund up to 85 though. Their process was easy and they are understanding knowing it was all our first time using them and doing a draw process.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $75,000
Cash invested: $65,000

This is a fix and flip project I am doing. Got this property for a great deal. Going through the rehab now.

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

This was a good deal number wise and condition of the home. I bought the property for 75K. This is s 3 bedroom, 2 bath townhouse at 1628 sqft with a two car garage.....i know right. The appraisal came back valued at 265K. so at 75K with a rehab estimated at 65K I'm in 140. Even if i do go over budget, or it may take longer to sell, the spread for this property is worth it.

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

I got this deal from a wholesaler in my investment group with Pace Morby. Subto and Gator

How did you finance this deal?

I did hard money and my capital. I have private money lenders who funds were tied up to where they were not able to invest in this deal with me. I didn't mind for this one to show that I can use my capital to invest, as I will showcase this for capital raising.

What was the outcome?

The home is still in progress, so stay tuned.

Lessons learned? Challenges?

Lessons learned so far: Closing and lenders. Having a good lender is everything, just like it is for a good construction crew. This was a stressful closing for me, but I was determined not to let this slip by. The closing date was originally 7/18 and it couldn't be moved. When the deal was presented to me; I had a week to do my due diligence and secure lending. There was a lot of back and forth for this closing and a delayed one but it got done.

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

I am a real estate agent and I have my lenders. I would recommend Capital Fund 1. I didn't use them for this one because they would only fund up to 75% and this lender I went with funded 90%...as a headache it was dealing with them; their numbers worked better. Make sure you know the areas your preferred lender services before you lock up a property. My go to lender was Copa Capital but they didn't service Casa Grande. So a lot of bouncing around to try and close in a week...that didn't happen.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $75,000
Cash invested: $65,000

This is a fix and flip project I am doing. Got this property for a great deal. Going through the rehab now. Currently, we are wrapping up phase one. We have demo done, the wall shelving and roof down in the AZ room. The home tested positive for asbestos, so I have a crew coming in to remove the popcorn ceiling where it tested positive at. Timing wise, the project is still on track. I am currently 3K over budget right now. There was a leak behind the master sink that ran into the concrete and I had that fixed. AC unit has been replaced and the inside of the home feels great now. LOL. Windows are planned to be replaced in the last phase. Stay tuned.

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

This was a good deal number wise and condition of the home. I bought the property for 75K. This is s 3 bedroom, 2 bath townhouse at 1628 sqft with a two car garage.....i know right. The appraisal came back valued at 265K. so at 75K with a rehab estimated at 65K I'm in 140. Even if i do go over budget, or it may take longer to sell, the spread for this property is worth it.

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

I got this deal from a wholesaler in my investment group with Pace Morby. Subto and Gator

How did you finance this deal?

I did hard money and my capital. I have private money lenders who funds were tied up to where they were not able to invest in this deal with me. I didn't mind for this one to show that I can use my capital to invest, as I will showcase this for capital raising.

What was the outcome?

The home is still in progress, so stay tuned.

Lessons learned? Challenges?

Lessons learned so far: Closing and lenders. Having a good lender is everything, just like it is for a good construction crew. This was a stressful closing for me, but I was determined not to let this slip by. The closing date was originally 7/18 and it couldn't be moved. When the deal was presented to me; I had a week to do my due diligence and secure lending. There was a lot of back and forth for this closing and a delayed one but it got done.

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

I am a real estate agent and I have my lenders. I would recommend Capital Fund 1. I didn't use them for this one because they would only fund up to 75% and this lender I went with funded 90%...as a headache it was dealing with them; their numbers worked better. Make sure you know the areas your preferred lender services before you lock up a property. My go to lender was Copa Capital but they didn't service Casa Grande. So a lot of bouncing around to try and close in a week...that didn't happen.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $75,000
Cash invested: $65,000

This is a fix and flip project I am doing. Got this property for a great deal. Going through the rehab now. Currently, we are wrapping up phase one. We have demo done, the wall shelving and roof down in the AZ room. The home tested positive for asbestos, so I have a crew coming in to remove the popcorn ceiling where it tested positive at. Timing wise, the project is still on track. I am currently 3K over budget right now. There was a leak behind the master sink that ran into the concrete and I had that fixed. AC unit has been replaced and the inside of the home feels great now. LOL. Windows are planned to be replaced in the last phase. Stay tuned.

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

This was a good deal number wise and condition of the home. I bought the property for 75K. This is s 3 bedroom, 2 bath townhouse at 1628 sqft with a two car garage.....i know right. The appraisal came back valued at 265K. so at 75K with a rehab estimated at 65K I'm in 140. Even if i do go over budget, or it may take longer to sell, the spread for this property is worth it.

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

I got this deal from a wholesaler in my investment group with Pace Morby. Subto and Gator

How did you finance this deal?

I did hard money and my capital. I have private money lenders who funds were tied up to where they were not able to invest in this deal with me. I didn't mind for this one to show that I can use my capital to invest, as I will showcase this for capital raising.

What was the outcome?

The home is still in progress, so stay tuned.

Lessons learned? Challenges?

Lessons learned so far: Closing and lenders. Having a good lender is everything, just like it is for a good construction crew. This was a stressful closing for me, but I was determined not to let this slip by. The closing date was originally 7/18 and it couldn't be moved. When the deal was presented to me; I had a week to do my due diligence and secure lending. There was a lot of back and forth for this closing and a delayed one but it got done.

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

I am a real estate agent and I have my lenders. I would recommend Capital Fund 1. I didn't use them for this one because they would only fund up to 75% and this lender I went with funded 90%...as a headache it was dealing with them; their numbers worked better. Make sure you know the areas your preferred lender services before you lock up a property. My go to lender was Copa Capital but they didn't service Casa Grande. So a lot of bouncing around to try and close in a week...that didn't happen.

Investment Info:

Condo fix & flip investment.

Purchase price: $170,000
Cash invested: $30,000
Sale price: $295,500

Net profit $96,000 with $30,000 contributed from myself

How did you finance this deal?

Hard money and my capital with partners who contributed as well

How did you add value to the deal?

Getting the hard money loan under my LLC and putting funds towards the gap and rehab

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

I am an agent, I worked with Copa Capital for the lending and Armando and Santiago for the contracting. I listed with another investor friendly realtor Edith