All Forum Posts by: Drew Nagda

@Steve Weber Appreciate it Steve. We had a big help from my father-in-law who was our general contractor (it worked really well and will be using him for our next project). Luckily we have family in the area (which is the main reason for the move to California). All the best to you and your move!

I moved to from NYC to Southern California in March 2016 with the goal of going all-in into real estate investing. The BP community & forums has been critical to my learning curve and was a lot of fun taking the inspiration of the podcast and putting it towards my flip.

I found the house on the MLS (!!!) in August and the overall project took 10 weeks to complete.

There are deals you can find on the MLS, it's all about fine combing through the listings on a regular basis.

Costs

Bought property for: $287,000 (asking price was $278,000)

Estimated: $50,000

Actual: $61,000

Total invested= $348,000

Closing costs = approx. $25,000

*** The open house is this weekend for $425,000.

Projected Profit: approx. $50,000 

**** After Video: https://vimeo.com/192682664

Here are the Before images:

Back of House

Before Staircase

Before Bedroom

Before Kitchen

Main Bathroom

Before Backyard

I'll keep this thread updated with the eventual selling price. Cheers!

Joe Abughazaleh thanks Joe! I've gotten a positive response so far -- especially since many friends are not involved with real estate, it's been great to give a bit of an insight to what I'm working on. I'm downloading the stories after each day and will compile them into a video on YouTube. thanks for checking it out!

Hey BP! I wanted to find a way to keep my friends updated along the way for a historic flip we are doing in the Inland Empire (California). I'm taking high quality pictures/video to document the progress - but wanted to use snapchat as a fun way to keep friends updated. We are about 2 weeks from putting our first flip onto the market, so working on a lot of the finishing touches and landscaping. If you want to follow along, add "Rehabbers" on snapchat.

Michael, welcome to BP. By checking out the Bigger Pockets podcasts (I listen to them while driving all the time) - you can learn a ton. 2 books I'd recommend: https://get.biggerpockets.com/nomoneydown/ (by: Brandon Turner) And Millionaire Real Estate Investor (by: Gary Keller) Those are some of the first books I read that were really beneficial. Tons of advice and knowledge on this platform. All the best

Update #2: closed escrow on this duplex! We worked with the PM to keep the tenants, and we're waiting until July to do any rehab.

Congrats BP! I've learned so much from the site and all the podcasts. Cheers to your team and thanks for building such a great community.

Update: The reason the seller wanted to hold the info about the property manager is because they were concerned we were going to pull the plug on the deal. We are moving forward and closing escrow this week and inheriting the tenants. It worked out so far ... I'm meeting with the PM company tomorrow to transfer the paperwork etc. Since the tenants lease isn't up until July 2017, I'm planning to keep the house as is and do no repairs. Once the lease is up, I'm going to try my first BRRRR strategy.

Appreciate your responses and yes agree it's very odd. I found out that 1 tenant hasn't been paying for several months, and am trying to figure out how much longer the lease is for the other tenant. I went through with escrow today and have an eviction lawyer I'm working with to get more clarity + a swift resolution. I'll post the updates and what eventually happens, but again thanks for the responses! Drew

Hey all, I'm in the process of buying a property that is occupied by 2 different families - one in the main house, and one in a converted garage. After agreeing on the purchase price with the homeowner (who lives out of the area), they put a counter in the offer that I couldn't get the name and information of the property management company until *after* escrow closes. Is that normal, or does that wave a red flag? I want to make sure the tenants get their deposits back in addition to a sum to leave the property in 30 days. This will not be a rental property but a rehab and flip. It seemed like a very odd note to add in the counter offer, and was wondering if anyone else had experience dealing with this. Thanks in advance.