All Forum Posts by: David Kosiorek

A big update, after my first deal about 9 months ago, i've managed to stay busy.  About me:  got my RE license in MD after my first deal, I'm MUCH more tech savy than the 3 agents that I had experience with and better with paperwork (record keeping).  I was also on vacation for roughly a month (more on this later).

(Dec 2014) - 2nd deal- townhouse, purchased off MLS price 62k, rehab costs 38k--all cash, was going to rent this but decided to sell once I got my license (so this took a LOT longer than I expected) under contract at 146k (I'm the listing agent so i'll save some $$ here)

Update****sold 146k, no seller assist

(Mar 2015) -3rd deal- townhouse, purchased off MLS 57k, rehab costs est 36k---all cash, should be listing likely by 7/1/15 for 152k

Update****sold 154.2k

April 2015- Missed opportunity:  While on my 1 full month vaca to Italy/France/Greece, I received an email from a woman looking to sell her house, I obviously didn't answer the email.  3 weeks later after I return, I reply only to find out that she is under contract with one of my good friends (he will make 45k on the wholesale).... kicks myself

May 2015- 4th deal-- neighbor walked into deal 3 jobsite and said he wanted to sell his house for cash...Foreman gave him my number rest is history (its 4 doors down from deal 3), purchase price 54k, est rehab 39k

Update****house is 90% completed as of 8/31/15, actual rehab costs were 48.2k vs. est of 39k, will be listing for 159.9 as market in the area has improved (should sell 152-156k)

June 2015, 5th deal-- found on mls...--LOC, went in 20% over asking (bank still pending on the offer) (currently residential -which i have a renter lined up at 1800/mo after I dump likely 50k in. I'll keep it as a rent for 5-10 yrs as this street has 29k cars drive down it a day and all three corners are all commercial with a flat lot (sold for 400k) on the corner across the street. So even If i bulldoze the darn place, I look at it as an instant 200k win.... could top off this year... My private investor wanted to bulldoze and put a strip mall on it... I might do that later down the road but until then... its a cash flow king and I get exclusive right to use the 3 car detached (2 story) garage as it has street access... I've been buying in BULK and my house is starting to look like a Home Depot******

Update*****house is 90% completed but renter has already signed lease for 10/1/15 @ 1750$/mo, he pays all utilities

June 2015--- I'm getting ready to close my first (normal deal) representing a friend of a friend on a condo purchase (easiest 4.5k i've ever earned)

Update****done done done

Learning experiences, i've been able to negotiate much much fairer prices for licensed HVAC services, I was going to go with a private lender for deal 5 but we couldn't come to terms- so I pulled out a LOC on my primary, I learned that I'll never do SOD again- leave it to the Pro's-- way too much work, I've changed electricians twice-- lowered cost by almost 1k for the same amount of work, will stick with the guy I have now for the foreseeable future. Talked to the post office mail carrier--- he has a lead on a house that his neighbor wants to sell, hoping it turns out. Talk to everyone and anyone, you never know where your next deal could come from. For all those that work a full time job to pay the bills (I feel you, RE is my part time job for nights and weekends but has quickly morphed to a full time job and i'm sleeping like 4-6 hrs a night), keep fighting!