All Forum Posts by: Justin Meccia

Investment Info:

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

Purchase price: $166,000
Cash invested: $25,000
Sale price: $350,000

Small SFR that I converted into a two-unit (up/down). Held for just over 3 years, collecting rent from two tenant groups. Sold to a fellow agent to reinvest.

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

Another FSBO that caught my eye.

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

Walked past. It was one block from my current project.

How did you finance this deal?

Seller financing for two years, then bought out with an FHA loan.

How did you add value to the deal?

Sweat equity.

What was the outcome?

Great cashflow for years. Great buy out ultimately affording new investment opportunities.

Lessons learned? Challenges?

Screen tenants! Communicate often.

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

I am a real estate professional.

I had a 60 minute call with a gentlemen from Freedom Funders (originally clicked on a Facebook ad capturing my attention due to its "100k funding guarantee" claim).  Not unlike any other lead funnel, it asks some qualifying questions.  However, the process is captivating (I don't know if it's legal?...).
freedomfunders.io

I'm not smart enough to speak to credit card stacking / debt restructuring.

I just wanted to see if anyone else has heard of this group or, has any experience.

I'm looking for some working capital for a struggling business I acquired a year ago.

TIA

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $118,000
Cash invested: $40,000
Sale price: $180,000

Purchased out of desperation, yet I found great personal healing along this journey (the greatest reward!).
Purchased with lease with purchase contract, then wholesaled to an investor group, retaining 10% ownership.

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

It was a home. I had suddenly become homeless.

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

FSBO. Called the seller - made a win-win offer.

How did you finance this deal?

Seller financing.

How did you add value to the deal?

Sweat equity.

What was the outcome?

Sold to an investor group. Structured a JV maintaining 10% ownership and occupancy with the promise to complete the project.

Lessons learned? Challenges?

TONS! Learned its important to meet deadlines, if no BEAT them.

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

I am a real estate professional.