All Forum Posts by: John Silva

 Corben, 

No problem, I fairly new at the investment myself but been around and seen a few things. I'm sure we can learn from each other. 

Hi Corben, 

I just renovated a home built in 1921 with radiators. I kept the radiators just painted them white to refresh them. Also, there are casing you can buy or build to cover the radiators. Duel purpose, first it covers the radiator to look better and acts as a shelf. On the other hand it is costly to replace them, however the upside they stay hotter longer when the heat shuts off opposed to baseboard. To save space and add eye appeal I replaced the bathroom radiator with baseboard.  

Best of luck. 

Thanks Michael. The deals are hard to come by but they are out there. 

Investment Info:

Single-family residence fix & flip investment in New Bedford.

Purchase price: $145,000
Cash invested: $58,000
Sale price: $249,990

First investment and flip to increase my capital. This was a home run. Purchased a 2 bedroom sfh made another bedroom and increased the value. Everything else was the standard gut right down to the studs. On the market for 10 days sold for full price. Here are a few pic's. Before and during this process I went to the Bigger Pockets community for help, pod's cast and blogs Thank You. It was a long process as I had to handle a personal loss.

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

Location, location, location and price.

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

Driving around in the neighborhood. On and off the market for (4) years, house needed a total rehab, clean out. Negotiate the price from those points plus paid cash.

How did you finance this deal?

Private money for purchase and I funded all the rehab.

How did you add value to the deal?

Added a bedroom, hardwood floors thru out, new roof, insulation, electrical, plumbing , new bath & kitchen and stainless steel appliances.

What was the outcome?

Received a full offer on the 10th day on the market.

Lessons learned? Challenges?

Need a professional skilled crew: electrician, plumber etc... that understand or work with small investors. Great work but know how to save money.
Challenges: Finding a contractor. I took three bids and they were all different.

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

I call this a full circle investment. I bought the home under my LLC and sold it. I'm a licence real estate agent. I represented the seller (me) and the buyers asked me to represent them !!! Dual agency = higher commission. I couldn't believe it no commission split and everything went well.

Hi Eric, 

I know I'm late to the party but Bay Coast Bank is a portfolio lending bank. They have branches in New Bedford and Fall River. Good luck. 

Hi Stephen, 

I'm an investor and real estate agent in New Bedford MA. I just completed a flip in New Bedford higher west end a desirable area in New Bedford. These are class B properties with a mix of sfh and mfh. If your looking for mfh class c which will be closer to or in a opportunity zone you might find a great deal. The commuter rail to and from Boston is being worked on. 

Message me and I'll be happy to send you some information about the city. Best of all. Good luck on your mailing campaign and real estate venture. 

Hello all, just a update about the staging. Before the consultation visit I received a full asking price. Hopefully, it goes well only in the p & s stage.

Dave H.. your comments are more in line with many of people who commented or asked on site. 

Thank you Hai. It will help get top dollar. 

John 

Scott, 

This is my property. Thanks for the valuable input, didn't think of that one if it was a client. 

Best, 

John