All Forum Posts by: Caleb Bryant

One reason I love the Huntsville, Alabama market, it hits these pillars. Thanks for a detailed article! 

@Gorden Lopes no there were holding costs/closing costs I just didn’t put them in because of how the Bp template is for these. Actual profit was ~23k

@Bryan Weiss there were a few hiccups but we got it done!

@Blake Garcia I just realized you were from big sandy Tennessee. Is that near Paris? Used to play with a band out there haha

Investment Info:

Single-family residence fix & flip investment in Huntsville.

Purchase price: $40,000
Cash invested: $17,437
Sale price: $91,000

Contributors:
Evan McCuen

Here is a simple fix and flip that we completed in the Huntsville, Alabama Market

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

I like the light fix and flips because you can get in and out pretty quickly and still make a healthy profit.

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

This deal came off of a referral.

How did you finance this deal?

This deal was financed with a private money loan. 100% of the purchase price, rehab and holding/closing costs were borrowed for this deal.

How did you add value to the deal?

We came in and updated all the main finishes. Countertops and vanities replaced, cabinets painted, new flooring, new appliances and some new fixtures.

What was the outcome?

This was a successful rehab deal

Lessons learned? Challenges?

The biggest challenge was replacing a roof after we were under contract to sell and closing during Covid-19. Relatively smooth deal overall.

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

Rachael McCuen from Chanda Davis Real Estate was the selling agent and she did amazing as usual!

Michelle Cummings is someone to chat with on property management. Congrats on the purchase! 

@Joshua Ferrari solid list. I’m going to double down on a couple (all of them on the list I’ve read are good). Joe Fairless’ book is amazing and has immediately actionable steps. Definitely worth the money. Matt Faircloth’s Raising Private Capital will help your find money in places you already have available to you, as well as learn how to always be raising!

Way to stick to your guns and get it done! 

@Guy Azta I’m buying but most of the stuff I’m buying is immediately going to another investor. The “hold” properties we are really picking up is sandwich lease options that way we know exactly what our downside is. I’ve got quite a few units already so I’m in no rush to pick up a long term investment, but I’m capitalizing on a lot of opportunities in the single family wholesaling side of the business as well as “whole tail” deals or extremely light flips.

@Guy Azta thanks for the input! I definitely agree with the leverage. I was kind of a low leverage guy anyway, and when I say low leverage I mean LTV, as we usually pick properties up for 100% LTC, but heavily under market. I could definitely see the government getting involved causing problems to values, especially when it's unclear how or if landlords will get paid. Some of the bills that have been introduced whether they come close to passing or not really attach a lot of strings and take most of the control away from the property owner. I saw a proposed 10% equity stake to tenants