All Forum Posts by: Leighton Williams

Investment Info:

Condo buy & hold investment.

Purchase price: $220,000
Cash invested: $30,000

Lake living is good! Beautiful 3-story unit with lake views from all levels. Amazing grounds and community deck with stairs to the lake and your own boat dock. The lake has all sports and the views, north facing, are fabulous. A bath on each level. Lowest level can be the 3rd bedroom suite or a family room complete with wet bar. It walks out to a brick patio. Association offers an in ground pool, tennis court, and deck. You'll have 1-deeded & adjacent carport spaces just outside your front door

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

Great property in a great location. Can definitely put some sweat equity in as well.

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

Agent on the MLS

How did you finance this deal?

Land Contract

How did you add value to the deal?

Came to agreement with seller that met his financial needs and secured a solid LTR in the process.

What was the outcome?

Great unit that will become LTR for the time being.

Lessons learned? Challenges?

First investment property purchased that has an HOA. Pros and Cons to it for sure. Will be interesting to navigate.

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

Fadi Dabaja EXP Realty

Investment Info:

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

Purchase price: $215,000
Cash invested: $25,000

Huge Duplex. Both units leased with long term tenants & under new contracts who will continue to stay under new ownership.

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

Time for a multifamily in the portfolio

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

Found it through MLS and agent got right on it.

How did you finance this deal?

Seller Finance

How did you add value to the deal?

Minor repairs

What was the outcome?

Added two instant cash flowing units to the portfolio.

Lessons learned? Challenges?

Deals are there to be had. Develop a strategy, analyze it, refine it, repeat.

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

My main man in Michigan. Get with me for his info!

Investment Info:

Single-family residence buy & hold investment in Eastpointe.

Purchase price: $145,000
Cash invested: $15,500

Beautiful ranch home with 3 bedrooms and 1 bath. Spacious kitchen with plenty of cabinet and counter space with tile back splash. Fenced in back yard with 2-car garage and back porch.

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

Ability to use little out of pocket.

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

Presented by agent and negotiated for a day or two before pulling the trigger and getting it under contract.

How did you finance this deal?

Personal savings.

How did you add value to the deal?

Minor cosmetic and landscaping upgrades. Primary focus was cash flow.

What was the outcome?

Working on getting a tenant in place and cash flowing the property.

Lessons learned? Challenges?

Don't hesitate when a good house presents itself. Set the price that makes sense for you and your goals and get it done.

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

Fadi Dabaja Remax Leading Edge

Welcome Leonard! I'm an agent based in St. Pete and the surrounding areas. I also currently have investment properties in Michigan. Would love to connect with you all. Feel free to reach out!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $117,000
Cash invested: $11,000

3 Bedroom, 1 bath bungalow with many updates! Fenced in back yard!

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

Little money down and a great way to get started.

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

Researched and analyzed a market outside of my own. Developed a team with boots on the ground, and eventually met face to face with them in order to see the area for myself.

How did you finance this deal?

Personal savings.

How did you add value to the deal?

Minor cosmetic items will be done prior to tenant moving in.

What was the outcome?

Waiting to be seen. Plan is to get a tenant in ASAP and cash flow the property.

Lessons learned? Challenges?

I'm sure there will be many, but new challenges means I'm moving forward.

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

Absolutely! Can't do this all on your own. Reach out if you're looking to get connected with great folks in Michigan!

Looking for a reliable property management company in the Detroit Michigan area. Any recommendations?

Hi All,

Figured now is a good time as any to create my first post and introduce myself to this community. My name is Leighton Williams, and I'm a 23 year old prospective investor. My high school buddy and I are going into this endeavor together hoping to expand our knowledge of real estate while also creating an alternate source of income. We're rookies in the truest form just looking to learn from all of you. I've already immersed myself in Brandon Turner's The Book on Rental Property Investing, and I'm pretty much hooked. Looking forward to linking up with you all throughout our ventures. 

Leighton