All Forum Posts by: Caleb Bryant

@Randy Smith found the hard money lender through local networking (well, Nashville TN local networking haha). I think this one was 2 points but I don’t remember off the top of my head

@Moises R Cosme thanks!

Investment Info:

Large multi-family (5+ units) buy & hold investment in Birmingham.

Purchase price: $2,048,000
Cash invested: $325,000

This is a 64 unit apartment complex that we purchased in 2019. This was mostly a momentum play although we were able to get it well below market value.

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

Being familiar and having property in the Birmingham market made this attractive immediately. The last owner had put a lot of Capex dollars into it before selling to us. We were also able to purchase it around 60% of appraised value.

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

Was sent from a broker before being put on the open market.

How did you finance this deal?

Hard Money

How did you add value to the deal?

The main thing to do on this one was catch up on maintenance requests and hire our own staff. Relatively smooth sailing on this one.

What was the outcome?

So far so good, one of our best performing properties.

Lessons learned? Challenges?

None so far, hopefully we won't see any soon haha

@Greg Rulfs and @Bastian Kneuse Thanks guys!

@Richard Palmer I'm always down to connect!

@Lauren Kail this one was off of Patrick St, 35810

@Lauren Kail Technically they funded 100% of the rehab, we just paid points up front, but 96k and change was the capital required to get it done.

Investment Info:

Single-family residence fix & flip investment in Laceys Spring.

Purchase price: $70,000
Cash invested: $26,086
Sale price: $175,000

Contributors:
Evan McCuen

Fix & flip in Lacey's Spring, AL. Picked up the property well under market value from a motivated seller. Ended up selling a lawn mower, tractor and other misc items not included in the numbers. (Channeling the inner Gary V haha)

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

The retail market in the area doesn't have much inventory, so any time there is a chance for a good flip, it's worth doing.

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

This deal came through our website SEO. The seller was very motivated and wanted to move to Florida, wanted to sell quickly.

How did you finance this deal?

This project was financed with a hard money loan from The Hard Money Team. The process working with them was pretty smooth.

How did you add value to the deal?

We replaced the HVAC, rehabbed the bathrooms, did some roof work, general cleaning and some new floors.

What was the outcome?

The outcome was strong, our best profit to date on a fix and flip SFR.

Lessons learned? Challenges?

COVID had a couple buyers spooked so we had a couple contracts drop. Had to put the HVAC in after inspection. Learned that it's never going to be perfectly smooth but if you stick with it you'll make it through.

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

Rachael McCuen for Chanda Davis Real Estate sold the property and did an excellent job. The Hard Money Team was great too.

@Richard Palmer we hired a contractor to get it done

@Trevor Fleck we managed the rehab but hired out the work

@Greg Rulfs thank you!

@Eryka Santoyo this one is a winner, the rehab looked great! Nice lot too

@Brian Ellwood love it! Let me know what you’re looking for and I’ll keep my eyes open!