All Forum Posts by: Dawn Roy

As a committed coffee drinker, I would say the convenience and choices of the Keurig is very appealing when I travel.  You can get a storage box where you can put multiple choices for your guests.  I would suggest more of the basic, unflavored coffee with some flavors thrown in for fun.  Hope this helps.

The kitchen had to be reconfigured as the layout didn't make sense.  We closed off a window to give more wall space and added a more convenient place for the refrigerator and additional cabinets.  We also re-sanded and stained the wood floors, added a deck off of the kitchen and re-worked the tile in both bathrooms.  These things made all of the difference in the world with making it more appealing to the buyer community.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $190,000
Cash invested: $60,000
Sale price: $306,000

This was a hoarder house with great potential. Once everything was cleared out, the bones were great. The best feature is the huge screen porch. It was only a covered porch but once we screened it in, it became a wonderful focal point for this home. A real diamond in the rough.

Investment Info:

Single-family residence fix & flip investment in Richmond.

Purchase price: $215,000
Cash invested: $25,000
Sale price: $315,000

This was originally owned by a wholesaler who tried to renovate it. The house was not selling so my investor partner picked it up and we made some key changes in the renovation. It then sold quickly and for top dollar.

What is seems that you are considering is potentially taking out a HELOC to access some of your equity. Either way, strategic buying is important. Are you looking to flip or hold?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $215,000
Cash invested: $25,000
Sale price: $315,000

A wholesaler got over his head with a renovation.

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

Poor renovation quality of the original investor made this a no-go for buyers. With some key tweaks to the renovation, this sold quickly.

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

Another investor needed to unload this property as it wasn't selling in its current condition.

How did you finance this deal?

Bank line of credit

How did you add value to the deal?

Renovation consultation and staging for maximum value.

What was the outcome?

Sold quickly

Investment Info:

Single-family residence private money loan investment in Chesterfield.

Purchase price: $205,000
Cash invested: $65,000
Sale price: $336,000

Brought this deal to an investor through contacts that I work with.

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

This home was in poor condition and needed a complete makeover to bring it to current market value.

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

I was referred this client by a divorce attorney.

How did you finance this deal?

Private Money

How did you add value to the deal?

Creative consultation regarding renovation and staging.

What was the outcome?

Big payday for my investor.

Grant,

For title, I would highly recommend Aurora Title (804-729-9005).  For a RE lawyer, I recommend Heath Gates ((804-320-9100)

Regarding your other questions, you should attend and join the local investor groups in our area.  There are private money lenders, wholesalers, contractors, staging ppl, etc.  Great ppl to meet and get to know.  Search for Jim Ingersoll on Facebook and join his group.  There are also Meet Up groups you can search for as well.

Best of luck to you in 2022.

Dawn

There are some good resources that I have met through networking with investors.  I would say you should get on the lists for CAVA properties for sure.  Check out Jim Ingersoll's Inner Circle.  Have met some terrific people through that.

Best of luck to you.

You should join local Meetup groups and investor groups in the area.  There are some amazing people in the Richmond area.