All Forum Posts by: Mike Hasson

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $15,000

First project! Was renting while researching real estate, and basically just bought it from my landlord!

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

passive income and wealth building

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

I was renting the home, negotiated because i knew it's flaws, and leveraged an extended lease that I had signed to live in the property

How did you finance this deal?

Conventional

How did you add value to the deal?

Opened floorplan, new floors, new bathroom, new wood picket fence, removed dead trees, many many repairs including roof, electrical, plumbing

What was the outcome?

A beautiful home ready for a happy resident

Lessons learned? Challenges?

Working with contractors, how to fit in the box for conventional financing, how equity is built, construction basics, DIY reapairs

Thanks @Brant Jones I'll be there! 

Excited to see this new location for Escape as well! 

Darn I saw this A week to late. Is this a regular thing? I'd like to catch the next one!

Can I revive this thread? I'm looking for a contractor/handyman in San Bernardino - I want to get to know someone over some small jobs before moving into bigger projects. My immediate need is someone who can install an exterior door, install a dryer vent, and do some finishing work on installing baseboards.

vacant homes do get targeted for break ins, so that socks but just he mindful of things like a "for rent" signs, no lighting, etc could look like open invitations for this sort of thing. 

I do have a property near Highland Ave, and I've made plenty of improvements and it's about to make a great home for somebody, but I also know that it will never be an A property, and so I adjust my remodel budget accordingly. 

With upgrades and repairs, I just think: "new & working" as opposed to "elegant & beautiful". 

I'm kind of curious as to why the deal doesn't pan out for you? Of course deals are hard to come by right now, but that I believe that area will be in demand when things reopen!

Also I'm looking to make my next move in the area, and would love to connect! PM me we can share some ideas; I'm hoping to do my small part to make this town a better place to live, one SFR at a time.