All Forum Posts by: Manesh Hardeo

I have a fixer upper in Kirkwood for sale.  

ARV: $395k

Rehab: $110k (waiting for bid)

Price:  $185k

Currently tenant occupied 1200 sq ft 3/1. Gable out the roof and add 2 bedrooms with a bath and gameroom/office and converting the first floor to a master suite with a half bath.  Its really in decent shape as it sits with 10' ceilings.

We've sold many of these in the area.  If you're wanting the address I will request a quick meeting upfront and then you'll be added to our list as deals come along in the future.  

Thanks and happy investing,

Manesh

404-987-8644

[email protected]

Nice Andrew that's great.  Can't wait for the before/after video.  Befores are done.

Congrats for getting off the sidelines! The biggest jump. Welcome and I look forward to seeing you around.

Well, I received a small commission, took a house over for free otherwise, and sold it for $7500 a week later. Still don't think that will ever happen again. This was in 30310 Atlanta, GA...not the best of zip codes obviously.

You have a great problem. It really depends on your financial situation currently, but if you have the means of getting the team around you to rehab it and list it, granted you have the financial means of doing so, and don't mind being out of pocket that money for several months, possibly, and it's in an area that has proven comps, then I think the answer is simple. Fix it, flip it, gain experience, more liquid cash, and continue flipping.

Good luck!

Patrick, I think this largely depends on your situation and your short and long term goals. Sure, can you buy some cash-flowing SFRs through conventional means and have a good return, yes. Depending on your liquid position, goals, and market. Ultimately, the long term goal for everyone it to be financially free. I'd speak with a good mortgage broker with investor experience about the amount of loans you can hold and your options. Speak with reputable sources in different markets about flipping and rental options.

With $70k available flipping SFRs with a good team you trust in whatever market you're in, with a solid funding source is a great idea, with the goal of adding a rental house to the portfolio in the midst of that to help mitigate capital gains. Talk to a CPA about this as I'm sure scenarios will differ.

Flipping houses via a hard money lender can find you anywhere from 50-120%+ ROI is very possible, and in the end ROI is ultimately what you're looking for, not necessarily a particular net gain monetarily. By keeping good PNLs and before/after photos you can take this experience to eventually find cheaper private lenders, or creating better relationships with the lender you started doing business with.

By flipping and mixing in rentals in good areas through more conventional lending (In better areas that aren't bogged down by foreclosures and short sales), I think you'd have a great starting point.

I'm absolutely sure there are members of BP that can help fill every aspect of the team you'd need to put together to be successful. The team helps relieve you of putting in too much of your own time, maximizing your return, and ultimately your success.

Good luck,

Nice house there Andrew. Wonder where you found that steal...those guys must be good!

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Well, what kind of deal are you guys doing? LLC will give you guys some protection and layout your stakes and responsibilities like you wanted. Some other members here may be able to give you some better insight. That's just what I've always done though.

You can get an LLC setup and have an operating agreement done that will outline those responsibilities,