All Forum Posts by: Bruce Martin

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $501,500
Cash invested: $90,000

Full remodel with additional two car garage with ADU above and second floor addition

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

Partnering with great team and two more in area to follow this one

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

Bought from wholesale

How did you finance this deal?

Merchant mortgage

How did you add value to the deal?

In process

What was the outcome?

In process

Lessons learned? Challenges?

In process

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

Merchant mortgage

Thanks for feedback, goal is to get her out and sell it right away.  I believe it has been well maintained.  I am cool cash for keys, so that works.  I think I need to get the previous owner on board to get her out and pay him instead?  

In final stages of buying a foreclosed home that has the girlfriend of the foreclosed owner still living there.  Foreclosure was in Oct 2020 and best as I can see, condition of home is still very clean and she does not to leave.  The past owner never made a payment and this is a great deal but not sure with Covid and being a single family home (sf) if I can just start forcing you out or need to do through eviction process.  Thoughts appreciated.

@Deneuve B.  Yes I do, The over 500K market seems to be slowing a bit unless it is a great deal and location.  I have a listing in mid 700's and we took off to freshen up some and lower price

@Peter Beardsley I had to buy the books so I could read everywhere. Plus when I realized I was spacing out. It was easier to go back and read. Take the chapter quizzes. A lot of the questions are the same on test

Good luck!!!

@Deneuve B. One, but my price point is 750 in castle rock.

Does anyone have thoughts on investing in 1 Bed/1 bath or 2 bed/ 2 bath unit in Denver area? I have investors looking for insight.  Or other configurations that might achieve best rental rates.

Investment Info:

Single-family residence fix & flip investment in Denver.

Purchase price: $399,500
Cash invested: $55,000
Sale price: $530,000

First Mid-Century Home flip with investor, bought through wholesaler.

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

It was a partnership with another investor and seemed like a good idea at the time

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

Bought through wholesaler so price was final

How did you finance this deal?

Used Hard Money Lender through the Wholesaler, not the best terms

How did you add value to the deal?

Complete remodel of interior and opened up the main floor plan which helped a lot

What was the outcome?

Didn't sell as hoped for and spent a lot of profit on holding cost.

Lessons learned? Challenges?

Debated whether to add a master bath and was talked out of it. Looking back had the room to do it and should have added as it would have added a ton of value

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

NA

Investment Info:

Single-family residence fix & flip investment in Denver.

Purchase price: $409,000
Cash invested: $61,000
Sale price: $542,000

Mid-Century Modern with huge yard. Lots of cool factor!!!

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

I flipped home across the street and love the area

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

MLS and built re pour with agent to make my offer stand out

How did you finance this deal?

Hard Money

How did you add value to the deal?

Exterior Paint scheme, full interior remodel with modern finishes

What was the outcome?

Sold in 8 days

Lessons learned? Challenges?

Find more deals like this one

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

First American Title, they are great!! Alex V at Madison office

Investment Info:

Single-family residence fix & flip investment in Denver.

Purchase price: $515,000
Cash invested: $78,000
Sale price: $669,900

Two Story town home near Denver Tech Center with excellent community amenities. Took a little longer to sell but still did OK.

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

Flipped in this community a while ago and did well, location is great

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

Found through MLS and negotiated well on the purchase

How did you finance this deal?

Hard Money

How did you add value to the deal?

Complete remodel, added hardwood through out the main floor, fancied the stairs up a lot and made the master bath feel like a spa

What was the outcome?

Did OK, home on market way too long

Lessons learned? Challenges?

Missed the market a little as should not have bought a two-story, ranches are King here and missed that

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

Merchants Mortgage for Hard money and they were great!!