All Forum Posts by: Micah Hughes

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $86,000
Cash invested: $50,000

Just had it professionally cleaned and staged. Going to list it Thursday

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

Wholesaler couldn’t find a buyer and neither could I bc it was such a nightmare but I took it on to prove to myself that I could take it on and it worked out great. 2.5 months with permits etc.

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

Wholesaler

How did you finance this deal?

Hard money lender

How did you add value to the deal?

Found it, put $50K cash into it. I’ll also list it. Hoping to get roughly $60K profit

What was the outcome?

$60K profit likely

Lessons learned? Challenges?

Electrical company has to add meter and connect wire from the pole to the meter

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

I'm an agent. Worked with HML lender. Lender invested $150K and I did $50K. He'll get $10K in profit. I'll get $60K. I love use OPM.

Thanks

I started in 2002 in the world of real estate services as a loan officer. In 2005 I started my real estate portfolio in western PA and central MD with rental properties. Then I got married and had kids and now have an awesome 3 and 5 year old and my dream of flipping properties is now able to be a reality.  I am bilingual in Spanish and English and still am also involved in the world of real estate services as a title rep and bilingual mobile independent settlement agent. 

I'm not too interested in just wholesaling as I have a good team around me of marketers, and a rehab team.  We have cash and lines of credit along with private money and are looking to help people add homeownership to their lives by helping them qualify and at the same time supply them the homes to live in.  We do what we do with purpose and for fulfillment.  

We want to get to know more wholesalers who share our values and listing agents who want to know quality rehab specialists.  I'm also a mastery student of Fortune Builders and have been leveraging their network and experience and are happy to be back in the game.  Let's crush it!