All Forum Posts by: Merideth McNamee

I'm really enjoying the BP book about investing with low or no money down...creative investing strategies.

Upon further research, I find that both deals are not what I'm looking for. I will keep looking!

I have two possible deals I am considering for my first investment. The first would be a flip. It is a duplex in a 55+ community. It is a 2/2, 1250 SF, and only requires cosmetic updates (flooring, paint, popcorn removal, cleaning etc.) I estimate the rehab at about $10,000. I hope to purchase it for $200,000 and sell for $250,000. I am an agent so RE fees will be low. I estimate my husband and I can do the majority of the work in about 4 weeks, but I am planning holding costs for three months. Properties in this price range are starting to move very quickly in Palm Beach County.

The other deal I am considering would be a buy and hold. The property is 2 small homes on a canal lot 3/1 & 1/1). Both are currently rented until later this year. There is no HOA so eventually I could turn them into STR due to busy fishing season in the area. However, properties are much farther away so much harder to manage on my own. Again, I'm the agent so I would manage properties and find tenants as needed. Properties are currently cash flowing about 800/month (according to current owner).

I welcome any and all thoughts and suggestions! Thanks

Investment Info:

Other buy & hold investment in Okeechobee.

Purchase price: $12,000
Cash invested: $12,000

3 acres used for recreation and some residences in area

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

We had friends with land there too.

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

On a land website...called and made an offer.

How did you finance this deal?

paid cash

How did you add value to the deal?

n/a

What was the outcome?

still holding it

Lessons learned? Challenges?

n/a

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

title company to close