All Forum Posts by: Justin Campbell

@Account Closed-   Thanks!

@Taylor Hudgins Yes it certainly pays to know your area! And yes, LA is way more expensive, but I am discovering some potentially good real estate opportunities here! How is real estate in Virginia beach currently? 

@Taylor Hudgins. Thanks! This was a flip a few years ago when I lived in Columbus OH. I live in Los Ángeles. But still invest in Columbus!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $70,000
Cash invested: $80,000
Sale price: $231,000

Found this property where I used to live. It was a FSBO. I was doing wholesaling for the previous years until then. So naturally, I considered wholesaling it, but then I ran the numbers if I flipped, and then I couldn't refuse to fix and flip it. PLUS I lived right down the street and I could see the project through my living room window, it was a no brainer.

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

It was the ugliest property on the prettiest block in a great area.

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

I lived right down the street from this property. I called the FSBO, scheduled a walkthrough, gave a cash offer the next day.

How did you finance this deal?

Private investor.

How did you add value to the deal?

I negotiated, invested and managed the project.

What was the outcome?

We received 3 offers above asking within the same day of the open house.

Lessons learned? Challenges?

-To always keep track of your budget.
- Make sure your contractors are sticking to what is agreed upon.
-Put every single thing in writing.
-Stay 4 steps ahead at all times.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $70,000
Cash invested: $80,000
Sale price: $231,000

Found this property where I used to live. It was a FSBO.

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

It was the ugliest property on the prettiest block in a great area.

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

I lived right down the street from this property. I called the FSBO, scheduled a walkthrough, gave a cash offer the next day.

How did you finance this deal?

Private investor.

How did you add value to the deal?

I negotiated, invested and managed the project.

What was the outcome?

We received 3 offers above asking within the same day of the open house.

Lessons learned? Challenges?

-To always keep track of your budget.
- Make sure your contractors are sticking to what is agreed upon.
-Put every single thing in writing.
-Stay 4 steps ahead at all times.

@Matt Bonestroo That's great to hear you've been getting more leads. I do not have a website currently.I've been looking at a few websites and you're the 4th person that has recommended Investor Carrot. I will check it out. Thanks. 

@Marc Winter I am very curious to how you are setting up your business virtually. I am in the middle of doing the same. What sort of marketing have you implemented lately? 

Outside of the websites, what other marketing are you guys using currently? Have you guys used text or ringless voice mail? I only have done direct mail and I'm looking for some new strategies. Thanks for the input everyone! 

@Joe Cassandra Thanks for responding.  I sort of halted my marketing campaign for a bit simply because of the uncertainty, but I know I have to get back on the horse and continue. Are you sending direct mail? I'm really curious about what everybody is using right now and trying to decide what should I do moving on. Cheers 

With the virus changing the very way we do business; how is everyone adjusting their marketing strategies for the rest of this year and possibly the next?

I purchase building materials with my CC, but I pay it off IMMEDIATELY. If you don't have the funds to pay it off immediately, then I wouldn't recommend using a CC. Good luck! 

I would definitely follow everyone's advice that has shared on this thread.However, I come from the same situation as you. At 21 years old, I had no money or credit to purchase my first deal, but I had TIME and the knowledge of a good deal on my hands. So I began networking at various meetups in my area and eventually met with an investor who had the funds to purchase and complete the deal. Being that I had no "skin in the game", I offered to manage the project from start finish and take a smaller percentage than the investor( I.E. %30 for me, %70 for the investor). I ran the project, he funded it, and we were both happy as can be with the finished product and profit. So don't be discouraged to get out here and find a deal when you don't have the money. If the deal is makes sense and you have the knowledge, the money will come along. Good luck!