All Forum Posts by: Levi Flowers

I am currently renting out 3 homes in Ohio, fixer uppers I worked on on the side, looking to focus more soley on real estate from now on. What would be my next best move? I dont have a lot of cash to put down at the moment. I could do a cash out refi on one of my rentals. Or have thought about an FHA loan and getting a multi fam house. Also Interested in getting short term rentals in various locations and moving my family to Florida next year. So should I even worry about investing more in Ohio or start branching out now?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $123,000
Cash invested: $10,000

Currently living in single family 4BR home

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

Wanted a nicer home for the kids

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

Our realtor told us about it before it hit the market

How did you finance this deal?

Bank

How did you add value to the deal?

Added bedroom, new carpet to BR floors, Re did both bathrooms completely, Landscaping, all new kitchen,painted walls

What was the outcome?

Currently living in home still, wanting to get a HELOC, do mid term rentals, find new multi family home

Lessons learned? Challenges?

Do the dirty work before you move in

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

Raya Hardy

Investment Info:

Single-family residence buy & hold investment.

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

2 BR single family home

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

The deal

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

FB marketplace, it was being sold by a local govt agency so the deal was already cheap.

How did you finance this deal?

Cash

How did you add value to the deal?

Gutted inside, added stairs to connect basement, added BR downstairs, new bath and kitchen, new flooring, electric and water lines.

What was the outcome?

Currently rented

Lessons learned? Challenges?

Everything actually went smooth

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

Raya Hardy

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $7,000
Cash invested: $10,000

Single family 2 BR

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

Cheap price

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

Realtor.com... The lady was selling her deceased fathers house and the price was low enough that not much negotiation was needed.

How did you finance this deal?

Cash

How did you add value to the deal?

Gutted entire house, New floors, walls, kitchen, bathroom, gutters, water and electric lines, front porch.

What was the outcome?

Currently rented

Lessons learned? Challenges?

Flood zones suck, and cheap labor is not worth it

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $43,000
Cash invested: $20,000

4 BR single family unit

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

It was an abandoned house across from a friends house, I contacted the owners and got the home a month later.

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

I used the auditor website to contact owner. He wanted $50k and we settled at $43k.

How did you finance this deal?

Bank

How did you add value to the deal?

Gutted entire house, added drywall, windows, flooring, new kitchen, added a bathroom and re did the old one as well as tear down a few walls and a closet to make it bigger.

What was the outcome?

We lived in it for a couple years and is currently rented

Lessons learned? Challenges?

If you want something done right, you have to do it yourself. Especially on the budget I was on at the time.

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

Raya Hardy