All Forum Posts by: Douglas Vogel

Nicholas, I’m not sure about this particular hard money lender, but we have had good success with RCN Capital for flips we have done in the past. 10% down and 10% IO while funding the rehab as well. I have moved onto multi family investments but they are a good resource to check out for 1-4 units. Let me know if I can help in any other way.

-Doug

Neel,

I think driving for dollars always works. You should link up with @Caleb Bryant. He lives in the Huntsville area and is investing in Huntsville / Birmingham. I am also in the Birmingham market looking for medium sized deals. Let me know if I can help in anyway.

-Doug

@Evan Nelson I am also in the MultiFamily space within Birmingham AL. Send me a personal message or email me if I can help you in anyway.

To your success,

Doug

Hey guys,

I’ve asked this question for Huntsville but I need a great property management company in Birmingham AL for a 20 unit value add I am buying.

If anyone knows of the area around 1000-13004th ave west I’d love to get your take. I know it’s low income and some theft but wondering just how bad the area is.

Rents look to be $100-200 below market but I’m worried about damage/vacancy rate in that area.

Hope to hear from you guys soon!!

Doug

Thanks everyone! I have reached out to these companies to see if we are a good fit. I can't say how much I appreciate this community.

Hi Everyone,

I am looking for a great 3rd party property manager in the Huntsville area. Preferably a company that can manage anywhere from 15-40 unit properties, know value add repositions and has intimate knowledge of the rental market. Your recommendations would be greatly appreciated!

@Clementene Taylor Sending it to you now.

@Tosha Duckworth sure. I will send it later this evening!

Investment Info:

Single-family residence buy & hold investment in Bremerton.

Purchase price: $100,000
Cash invested: $15,000
Sale price: $150,000

Bought as a rental with $200/month cashflow. Ended up selling 2 years later for a net profit of approx. $48,000.

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

First Deal!

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

Through Fannie Mae Homepath

How did you finance this deal?

Homepath Financing 10% down.

How did you add value to the deal?

Market was great and kept the property updated during rental.

What was the outcome?

Sold for $48,000 profit.

Lessons learned? Challenges?

Renting on $200/month before repairs/capex is DIFFICULT

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

Family friend who was a broker.

Investment Info:

Single-family residence fix & flip investment in Chicago.

Purchase price: $145,000
Cash invested: $45,000

Bought the property as a fix and flip. Unfortunately after the great rehab on budget, was unable to sell on the market for over a year. It is now producing a $900/month cashflow as a medium term insurance rental.

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

Wanted to flip for profit

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

Networking and finding investor/broker

How did you finance this deal?

Rehab loan along with private investor

How did you add value to the deal?

Complete rehab of the property

What was the outcome?

Ended up keeping the property due to inability to sell (still not sure why).

Lessons learned? Challenges?

Estimating market conditions 2-3 months out after rehab is complete.

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

Yes one broker/investor which knew the market and had contractor relationships.