All Forum Posts by: Ken Nyczaj

@Sam Shueh the glue is my favorite part! JK, I now use an adhesive stick after having a glue taste in my mouth for weeks.

Honestly, I didn’t track my time as much as I should. We are just getting started and I didn’t want to focus on perfection but just action. I’m our acquisition manager and I can say the longest part was building the list through looking at dock sheets, parcels, D4D, etc. Printing and creating the envelope took time too but we are going to find someone local to do that part, I’ll continue to build the list as I see it being the most important part.

If I had to guess, if I worked four straight weeks, 8 hour days that would have gotten us our first deal. That being said, I didn’t work straight through as I have a full time job where I travel, and I was very inefficient at first.

Thanks for your reply

@Rich McElaney thank you Rich. Not really any big surprises. The house was built in the early 90’s which was advantageous to less surprises. An equity partner is an experienced contractor so he was able to walk through and estimate expenses before he rehab. He estimated $70,000 and we came in just under that. The buyers inspection came back on some minor things that we were surprised needed to be corrected, but we just did it anyway and didn’t argue.

From closing to sale it was exactly 3 months. Was on market for just under two weeks.

@Ryan Jakubowski Thanks!

@Peter Fennig thank you, the Island was built by a business partner who is a carpenter by trade. The shower we were able to lengthen from 6 feet to 8 feet by taking down a wall that was nothing but 2 feet of empty space. I guess they framed it in to make it easy to fit a 6 standard 6 foot tub.

@Chris Jensen first thing in the morning, before the day gets away from me

@Victor Hess

Thank you! Appreciate it!

My team and I sold our first flip today!

Started diving head first into real estate in the beginning of 2018 and haven't slowed down since. We found this deal from a DM Campaign. After a few campaigns with no results, one in May finally stuck. Biggerpockets has been an incredible source of information and this wouldn't have happened without the community.

Front view: (Packed the Prius full)

Rear: (Bay Grasses turned out great)

Kitchen:

Master Bath:

Roof:

Here's about 3300 letters that I proudly lick!

Numbers:

Purchase- $108,000

Rehab- $70,000

Holding- $3,200

Sold Price- $288,000

Profit about 27% off of sold price.

Thank you to all who helped me throughout the Journey, greatly appreciated. Now we are looking to put our 2nd and 3rd property under contract this month. Possibly even a fourth if I have any funds left! If you're in the Annapolis area, reach out anytime- I'm definitely looking to get some sort of master mind group together to bounce ideas off of!

@Casey Barickman I had a similar rate quoted in Maryland but it was fIve year fIxed , prime +1 amortized over 25 years but there was a cap at I believe 9%.

@Karina Torres learn how to bring value to other investors and maybe one will take you under their wing. There’s a lot of great book recommendations and podcasts that can get you started.

@Dean Letfus I love the referral fee idea. I’m definitely going to start using that!