All Forum Posts by: Brent Zande

We had to kilz all surfaces twice clean ducts and resurface the tubs and countertops.  It was still very faint even after all that I thought but not a single person mentioned this while viewing it so it must have been ok.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $99,500
Cash invested: $13,853
Sale price: $155,000

Purchased this home from a wholesaler and it was literally sticky from having been smoked in forever. Rehab was quick and sale was immediate. On market 6 days got 7 offers all above list of $146000. No housing for first time buyers makes this type of flip easy. Hope to find more like this.

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

Felt it would be a good quick flip and I knew the institutional investors would want it based on rent comps.

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

Wholesaler that we work with found it.

How did you finance this deal?

Cash

How did you add value to the deal?

Cleaned up painted new flooring and got the smell and smoke out.

What was the outcome?

Great return in short time

Lessons learned? Challenges?

Looking for more first time buyer housing to flip. It’s hard to find.

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

No

Thank you, Brian I will be in touch.  Erica and Matthew great input and I will learn more on each path, thank you.

Thanks, John that is my plan.

We are almost complete with our first Air BnB in Charlotte and we are looking for the right way to insure the property without breaking the bank.  Our insurance company has provided a quote that seems very high for the value of the property.  Looking for any advice to reduce costs or companies that are more familiar with Air BnB insurance. Thanks in advance!

Hi Jordan,  I am a contractor in NC. This contractor had a very specific task that they essentially defined.  You have no obligation to allow them back on your property to do the work that they did not do.  This company sounds a bit like a scam operation.  If you can deny the payment, you should.  They would have to provide proof that they did the work in order to have an enforceable lien.  They can file one but it is worthless if you have proof that they never went up on the roof.  They have less of a leg to fight you than you have to fight them since it is known that they never went on the roof.  Good luck!

Derek,  If a buyer/investor is willing to walk from a good deal because you are making money on it, really any amount of money, then you have the wrong buyer.  I could care less if the wholesalers I work with make a lot on a deal and I still have a good deal on my end.  It is too hard to find the right properties today and good wholesalers work their butts off so I am happy to pay, your buyer should be too.

Brett,  In Charlotte there are two that are very comfortable with double closings and wholesale transactions.  Harry Marsh and Ralph McMillan.  Both are very good and they get it!

Superior school of real estate is the best in this area.  If you are lucky you will get instructor Bill Gallagher.  He is hilarious and excellent.  Makes the long hours tolerable and memorable.

Hi John,

Is this sold?

Thanks Brent