All Forum Posts by: Jeoffrey McCalla

Investment Info:

Single-family residence buy & hold investment in Carterville.

Purchase price: $129,450
Cash invested: $18,375

Brand new construction 3 bed 2 bath home. Excellent school district and up and coming area is what really gives this home its value.

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

We had some 1031 exchange funds we needed to spend and this deal was to good to pass up!

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

Realtor brought it to me.

How did you finance this deal?

15% down, 20 year note.

What was the outcome?

1 year lease signed at $1200/mo.

Me and my wife were able to purchase our first rental back in march, also we bought a fix and flip with a family member in the same month! We were able to sell the fix and flip in June of this year! Me and my wife were then able to purchase our first duplex in July. We are currently doing another fix and flip and a BRRRR. Also, We have another single family home brand new construction under contract and set to close in 2021!

@Brandon Unrein I'm actually from the NW Arkansas area and used a bank down here. But I am more than willing to give you that contact info if your interested!

@Brit Hale Thankyou!

Investment Info:

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

Purchase price: $117,000
Cash invested: $15,000

2 Bed, 1 Bath Each unit duplex. We did a slight remodel with upgraded fixtures and cosmetics to maximize the amount of rent we could get from each unit.

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

Building our rental portfolio.

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

It was and off market deal through a local realtor in the area.

How did you finance this deal?

Utilized a small local bank that offered to fund the price of the property, closing costs and rehab for 15% down.

How did you add value to the deal?

Updating and cleaning up the entire property.

What was the outcome?

Both units rented out very quickly after advertising the availabilty.

Lessons learned? Challenges?

Selection in tenants is very important. The previous owner of this property did not screen tenants and the property got very worn down and infested with roaches and mice. I had to have the property exterminated 5 times before everything was taken care of.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $127,500
Cash invested: $15,000
Sale price: $190,000

We mainly did a cosmetic upgrade to this residence. The house also had 2.4 acres and two shop buildings! With upgraded features, Land and Shop buildings, The value of this house really went up!

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

The potential for profit was really good!

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

I bought it wholesale from another investor!

How did you finance this deal?

A construction loan through a local bank. 15% down.

How did you add value to the deal?

Updated the structure, mainly cosmetic. Also added new hvac and appliances!

What was the outcome?

It sold within 8 hours of posting on the MLS!

Lessons learned? Challenges?

Don’t get in a rush when painting cabinets!

Thanks!

Investment Info:

Single-family residence fix & flip investment in Elkins.

Purchase price: $80,000
Cash invested: $20,000
Sale price: $154,000

2 bed 1 bath house that we were able to add a 3rd bedroom and 2nd full bathroom too in the existing structure! Added major value to this home and we were successful in resale!

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

A friend of mine was doing it and it interested me so he taught me how to find and analyze deals and I’ve been hooked ever since!

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

Another investor was selling the property they didn’t have time for. No negotiating as they sold for what they bought it for.

How did you finance this deal?

Construction loan from a local lender!

How did you add value to the deal?

Added a 3rd bedroom and 2nd full bathroom and updated the whole house!

What was the outcome?

Successful resale of the property!

Lessons learned? Challenges?

Spend the money to have a professional do certain things, I’m a diy type of guy and did 90% of the house on my own, but I definitely could have hired a professional for a few things and will do in the future.