All Forum Posts by: Jake Denning

Investment Info:

Single-family residence fix & flip investment in Baytown.

Purchase price: $130,000
Cash invested: $60,000
Sale price: $220,000

This project was one of those headaches! The kind of headaches where you are 15k over budget and you have not even broken ground. This projected took quite a bit of time to finish up, as we tore out walls and got more bids in, the price just kept climbing and climbing. Overall, we came out the other side with a super small profit and a lot of lessons learned.

Hey BP! 

I am not posting a deal here but I had a homeowner contact me for a property that he would like to sell for about 70% of the market value (once renovated) The property is in okay shape just a bit out dated. Any way, the owner is not in the best of health and is really looking for someone to "buy him out" and allow him to live there till he passes away. He basically wants to cash out some equity and then live there for free while having the cash to take care of some of his expenses. This is not a deal that I can personally make at this time but there is a good equity grab. Anyway curious if anyone has experience with a lifetime mortgage/lifetime lease/ lifetime estate and might be interested in something like this or how to approach this situation.

I did do some research on this and it looks like it is a less common strategy because it just adds debt until the individual passes away. 

 I appreciate it!

Thank you!

Hi Rachel! Thank you so much for the feedback! This may seem silly but originally the Laundry room/ laundry hookups were in the detached garage of this home! We decided to turn the extra space in the house into the Laundry/Mud Room. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $185,000
Cash invested: $56,000
Sale price: $325,000

This project was a fun one! We were super happy with the way everything turned out.

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

Wholesale find, it was already priced fairly!

How did you finance this deal?

We financed the bulk of the deal with Hardmoney and then used a private lend to cover part our 10% + closing cost and monthly interest only payments. So, none of our own money!

How did you add value to the deal?

We renovated just about everything! We were able to find that under the old carpets was hardwoods! We finished out the hardwoods!

Much appreciated William! 

Thank you so much Whitney!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $78,200
Cash invested: $13,000

This one was our second BRRRR in the same area we have been farming. It also has turned out very well for the minimal dollars we put in! We used our normal GC everything came out on budget and on time! We were very happy with this one.

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

Our first BRRRR worked out well and we came across another property in the same neighborhood. Needed to do it again!

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

Mailing the neighborhood!

How did you finance this deal?

100% private money

How did you add value to the deal?

Putting in all new flooring, paint, baseboards and kitchen cabinets & countertops!