All Forum Posts by: George J Anderson Jr

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $256,000
Cash invested: $12,000
Sale price: $365,000

I originally bought this home as as buy and hold for long term but the market exploded.
I used the VA loan to purchase the unit with zero down.

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

the cashflow

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

i found it on the MLS and called my real estate buddy to help me out since it was my 1st deal

How did you finance this deal?

Used the VA loan

How did you add value to the deal?

I rehabbed the side i lived on over a year and a half. Countertops, Faucets, Paint and light fixtures.

What was the outcome?

The outcome was a large sale price

Lessons learned? Challenges?

Next time hold all my rentals but this one positioned me financially to take on bigger projects

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

Yes and agent

@Edwin Campos

1)Started my Construction company

2)Bought a Duplex

3)Learning Wholesale

4)Listened to every Podcast BP offers 2-3 times (no joke there)

5)Networking with many investors and currently on my way to the Real Estate Roundup networking convention in Mississippi.

6) Massive Imperfect Action

@Stephen Glover

That’s outstanding!!!

Yes I remember those episodes!

Glad you brought that back up and highlighted it again.

Pure gold!

You used that brain during a stressful time. I tell people everyday to sit back and use that brain we were given.

No need to stress because then we have 2 problems to deal with now.

The problem, and the stress.

No need for that.

Great thinking sir!

What days are the meet ups in Hawaii? I’m about to vacation there in September and would love to attend one meeting. 

@Mitch Coluzzi

Your post is liquid gold my friend. Use them to your advantage. Purchase some property from them!

I mean they are calling you. Might as well network.

@Alan Grobmeier

Tell them to put you on their buyers list!

Why waste a good opening to network?

They are calling you!

These wholesalers are going out there and doing the leg work. Finding great deals that need a little TLC.

Grab another rental property in your area from them. Lol

Don’t let them calling you get you down. Use it to your advantage.

I have a bunch of wholesale friends. They call me all the time.

They are a great resource.

40k for a house that needs 30k worth of work? ARV is 150. I'll take it.

@Angela Holmes Hey there Angela. I’m also a newbie here in Spokane Valley. We have a growing market and many many multifamily units that are great deals. I currently manage a 600 unit apartment complex here in town as a maintenance supervisor. If you have any questions feel free to messege me. I’m currently looking into a 4 plex myself.

Right now I’m in the middle of a divorce. Soon to be ex lives in another country and not responding. I’m finding deals daily and can’t purchase. What options do I have? Kind of stuck. Finding multi family units constantly. All cash flow but don’t know how I can get these under my umbrella. There are options but I don’t know what options are availiable. I’m all about finding ways to keep moving forward. Anyone have any advice? I’ll take any and all. “I can’t” is not in my dictionary. Hope I am posting this is the right forum. Thank you for your input.

@Richard Lovering Don’t get shiny object syndrome.......... Do research and do the numbers. Network with as many people as possible. Throw out a few letters of intent. Don’t get paralyzed. Move forward. Have fun!

@Danielle McClelland I’m 36 just learned about Bigger Pockets about 4 months ago. Within 2 months I had my 1st offer on a duplex in that was going to yield 2%. It got accepted the only reason I pulled out is because I started getting a divorce. Other then that. This is simple and once the divorce goes through I’ll be full speed ahead. For the last 20 years though I have been in construction and property manangemnt for single family and the last 2 years I have been running a 600 unit apartment complex and a 110 unit condominium. Talk about the crazy stuff that goes on at these places lol. YOU CAN DO IT.