All Forum Posts by: Caleb Stuart

I am looking at purchasing a run down motel for around $1,000,000. It is currently occupied by "under the table renters" and needs about $100,000-150,000 of renovations. It is currently 10 units and has room for expansion. I believe I can rent a room out for 70-100$ a night, with low vacancy. The area this motel is located in is going to be walking distance to a lot of new attractions coming in 2026. I'd love to hear feedback on this as I am new to this type of project. 

Hello everybody, I'm looking for an agent who specializes in REO properties. I am interested in purchasing a proptery that didn't sell at public auction.

Hello I am looking to purchase an old 16,000 sqft building and convert it into apartments. I've only used cash for my deals but looking to start leveraging. Is there any recommendation to use multiple private lendors vs. a bank? What is a normal rate for something like this? I'd be looking to raise about 2 million and would finish the project within 2 years, then i would rent the apartments.

For any wholesaler, realtor, broker, investor etc. looking to connect in the Richmond Va, area I'd love to get intouch! I just wrapped up my first year of house flipping, I was able to do 6 homes with profits of; 23k, 47k, 53k, 83k, 150k as well as my own current home not listed. I also assist in running a General Contracting company that does work in Northern Va down through Richmond.  

Investment Info:

Single-family residence fix & flip investment in Richmond.

Purchase price: $110,000
Cash invested: $120,000
Sale price: $450,000

This was my first flip done near East Highland Park on a 3k sqft home over 100 years old.

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

auction

How did you finance this deal?

cash