All Forum Posts by: Dan Wynn

Hey BP friends, 

We just finished our first home under Wynn Investment Team LLC!!

Paid 25,500 for house, Rehab was 32,000, all in for 57,500. ARV$100k (just got appraised). Refied at 75% LTV. Still have 25% equity left on the table when we sell. Going to rent it for 870$, will cashflow 310$ a month.

Thanks for all the help and support, without BP i would still be stuck in the analysis paralysis phase.

Actively looking for the next deal. Also looking for a lender to help scale.

Update: Just finished the home!! Paid 25,500 for house, Rehab was 32,000, all in for 57,500. ARV$100k (just got appraised). Refied at 75% LTV, after closing cost received $70k. Still have 25% equity left on the table when i sell. Going to rent it for 870$.

Thanks for all the help and support.

Update: Just finished the home!! Paid 25,500 for house, Rehab was 32,000, all in for 57,500. ARV $100k (just got appraised). Refied at 75% LTV, after closing cost received $70k. Still have 25% equity left on the table when i sell. Going to rent it for 870$.

Thanks for all the help and support.

Sorry for the late response:

@Delenor Wilson- Thank you for your service. Im an Army Officer. Being in the military has negatively affected my investment business  because i cannot devote as much time needed to grow the way i would like to. It just slows everything on the business side down. The military has, however, positively affected my personal life in countless ways. 

@Hannah Cheadle- found the deal by driving around the neighborhood. Took out a personal loan and paid cash. I used a contractor to help estimate rehab costs. 

@Max Biggar- thanks Max, I hope everything goes smooth with your first deal! Shoot me a pm if you need anything.

@Rodney Watson- Hey Rodney, I don't know too much about 32210 zip, found my deal in 32218. What makes you want invest in Jax?

Update, didn't close on the house 1 because title was not clear. Closed on house 2 last week, starting rehab now. Actively looking for my next deal.  Currently looking at 4plex. Thanks again everyone.

-Dan Wynn

Hey BP,

Just closed on my 1st deal, 3/2 1300 sq ft SF in Jacksonville. Paid $25,500, will cost $18,000 to rehab, ARV $65000. I'm using the BRRR strategy. Average rent price for similar homes in the area is $800-$850. Rehab will take 3 weeks to complete.

I created an LLC (Wynn Investment Team LLC), opened a business account and plan on rolling all properties under the LLC. My goal for this year is to add 3 rentals to the LLC. Looking to purchase another rental as soon as i can. Currently looking into a 4 plex.

Thanks to everyone here on BP who has helped me along in the process of completing the first deal. I will post updates when complete with rehab.

If anyone has any contractor, electrician, handyman, a/c, cap, harmony lender references, please PM me. Additionally, if anyone has any questions about my deal or if i can help in any way, pm me, not a pro yet, but I'm willing to help if I can. Thanks again everyone!

-Dan Wynn

Thanks for the advice all.

Gregory- Thanks for mentioning the marketplace, I've been on here for about 7 mnths and didnt kmow about it. 

Thanks for the responses.

Mitchlyn, no i dont currently have a partner that can assist with financing, im looking for one though if you have any in mind.

Andrew, yea, i did answer my own question but im always open to other options to expidite the process. Im all ears to any suggestions. 

Hello all, i am in a simalar situation now. David, how did the refi end up working for you?

Failed to mention that i baught both properties all cash in Jacksonville Fl.