All Forum Posts by: Jeff Ramsey

I'm just a little guy with a few properties but I'm located in Mobile. Let me know if you want some advice on the area. 

Thanks Matthew. Hoping to build from these first few

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $13,000
Cash invested: $18,000

This house was the definition of distressed. I knew it needed work but for the price I decided it would be the best way to learn everything I could at a cheap price. I jacked the whole house up nine inches by hand. After I got it up higher I could tear out all of the rotten floor joists that were making it bow in the middle. It recieved new wiring, plumbing, ceiling drywall, kitchen cabinets, etc. This was the project that never ended. I bought it in fall of 2016 and finished it fall of 2019

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $36,000
Cash invested: $14,000

Nice 3/1. Close to downtown area. I bought it without any plumbing and four receptacles. After several weekends and late nights of work it's been producing cash flow. Paid cash and out of pocket to rehab. Bought this one in spring of 16

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

This went back and forth for months until we reached an agreement.

How did you finance this deal?

Saving up

How did you add value to the deal?

By bringing this house that was built in 1940 into this century.

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

I did this on my own.