All Forum Posts by: Caleb Johnson

Hey Wendell, I house hacked my first 4-plex and was cashflowing from day 1. I found that the income from the other renters was able to pay for a lot of the repairs so I don’t need to take out of my savings as much. 

When you say stretch what do you mean? Let me n one of this helps, good luck.

Congrats on the rental Nadir. I have a 4-plex and used Facebook Marketplace, Zillow and a couple of other sites to advertise. I found that I would get 100+ messages on Marketplace while Zillow would only get a couple. I would have my units rented within the week.

Also look in the area and see what the average rent is. It sounds unique to have a bathtub with no shower, I haven’t heard of that before. Maybe you need to look into installing a shower faucet to make it more desirable. 

In conclusion, I would use Facebook Marketplace and check other rentals out in the area and see what they look like and what their prices are. Let me know if this helps!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $350
Cash invested: $1

I partnered on this deal with a fellow BP member. I reached out to them and we connected over the phone. I started by adding value and giving him my contacts for the people I was going to us for flipping. He is a go getter so he called them right away. I then asked him if he might like to partner on something and he said he wouldn’t be opposed.

Fast forward 3 months, we are half way done with our first flip. We found it through a wholesaler. My partner invested the downpayment and other monitory costs, he is managing the property while I am backup if we need a second pair of hands on something.

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

I will use the profits from flipping to purchase cash flowing rentals.

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

Through a local wholesaler.

We just jumped on the price when we could. Houses now are flying off the shelves in 30 mins.

How did you finance this deal?

Through a partner and hard money lender.

How did you add value to the deal?

Providing connections that saved us money and as a second pair of hands on the rehab/Managment.

What was the outcome?

Currently doing it.

Lessons learned? Challenges?

Prepare, get permits first and order anything bug you will need up front.

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

Alex Gubay (wholesaler) (480) 818-4038
Bo Seamands (hard money) +1 (903) 721-5807
Philip Mazur (Agent) (815) 276-4814

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $350
Cash invested: $1

I partnered on this deal with a fellow BP member. I reached out to them and we connected over the phone. I started by adding value and giving him my contacts for the people I was going to us for flipping. He is a go getter so he called them right away. I then asked him if he might like to partner on something and he said he wouldn’t be opposed.

Fast forward 3 months, we are half way done with our first flip. We found it through a wholesaler. My partner invested the downpayment and other monitory costs, he is managing the property while I am backup if we need a second pair of hands on something.

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

I will use the profits from flipping to purchase cash flowing rentals.

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

Through a local wholesaler.

We just jumped on the price when we could. Houses now are flying off the shelves in 30 mins.

How did you finance this deal?

Through a partner and hard money lender.

How did you add value to the deal?

Providing connections that saved us money and as a second pair of hands on the rehab/Managment.

What was the outcome?

Currently doing it.

Lessons learned? Challenges?

Prepare, get permits first and order anything bug you will need up front.

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

Alex Gubay (wholesaler) (480) 818-4038
Bo Seamands (hard money) +1 (903) 721-5807
Philip Mazur (Agent) (815) 276-4814

Hey everyone, I recently got a deal sent to me from a wholesaler that could be a potential flip. I was running the comps and saw that in the description on Redfin that it has solar panels and that they are leased? What does this mean and will this affect the numbers of the flip?

Thank you all for the help! I'm looking forward to the learning experience.

Thanks for the help Daniel!

Hi biggerpockets members, my name is Caleb Johnson and I am a landlord in Arizona. I used the House Hacking strategy to buy my first 4-plex in August of 2019 and have Biggerpockets to thank for this. One of my tenants needed to go so I had him sign a non-renewal lease agreement on the second of May. He got arrested on the 5th. I planned on going in on the first of June and removing all of his belongings to a location where his friend said he could collect them when he got out of jail. That way he can still have his things secured once he got out. Does anyone know of a better plan that is legal of course and is a win win for me and the tenant. I would appreciate any help! Thank you and have a good day.

Thank you very much Doug for that reply! This helped me so much and boosted my faith in the possibilities of this deal. 

Once I make the decision to get a property manager, you will be the first person I look up. Thanks again, Caleb.

Hi everyone! My name is Caleb and I have been listening to the biggerpockets podcast for quite sometime now and have read many of the books that have been published through buggerpockets. I learned about the strategy called house hacking through the book called Rental Property Investing and thought I would try it out! I am in the process of closing on a 4 plex in Apache Junction, Arizona and just accepted the BINSR. I realized that my loan might be approved because due to the slowing at my job that I might not meet the requirement of 40 hours a week. I just talked to my boss and he said he can give me the necessary hours as long as I need (I am very blessed to have a boss that is willing to work with me). But I'm concerned that it may not be soon enough. I know that biggerpockets is home to some of the most creative and smartest real-estate investors around. If the loan doesn't go through, is it still possible to get the keys to this property? I am very motivated to close on this property because my goal by the Christmas 2020 is to subsidize my moms income. I greatly appreciate any suggestions and thoughts you might have. Have a blessed day!