All Forum Posts by: Kweli Webster

@Santiago Marquez thank you. 

@Don Gouge yes, I was the listing and selling agent. It appraised for more than I purchased the home for. So I went in the deal with equity. As a agent I get the selling  and listing agent commission, plus the profit. 

@Wale Lawal thank you for the advice and hello business partner we are with the same broker. 😀

Joe, thank you for your suggestions. I’m an agent and have monthly networking events that has help me connect with a lot of people in different real estate industries. So I’m glad I’m on the right track. My passion are flips and eventually holds. I just like to hear other people experiences on how they got started and sustained their business. 

Hello! I’m a beginner investor and interested in how people got started and how they are continuing to grow their business. I flipped my first home and did well for more first, but I’m not sure if I want to find a partner or continue to do it my own. All advise is welcome. 

Investment Info:

Single-family residence fix & flip investment in Nashville.

Purchase price: $225,000
Cash invested: $30,000
Sale price: $294,000

1965 Single Family home. 3 bed 2 bath w/ den. 1640 sq ft.

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

Ran across this home on the MLS that I knew was a steal because I familiar with the comps in the neighborhood. Price was listed 50k under appraisal price. It needed work, but had great bones and was a good flip

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

MLS. I'm an agent and seller was eager to get rid of home.

How did you finance this deal?

Hard Money

How did you add value to the deal?

Opened the floor plan, added a bathroom, remodeled the kitchen, strip and stain the original hard wood floors, painted, and upgraded fixtures.

What was the outcome?

Closed over asking price

Lessons learned? Challenges?

Lessons - I love the feeling of flipping homes, but I would like to find investors to invest in my flips and hold on some properties to be build my profolio. I know you have to spend money to make money, but my money is not long like I want and I know it’s a better system.

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

Yes, myself.