All Forum Posts by: Mike Quin

Investment Info:

Single-family residence fix & flip investment in Sunnyvale.

Purchase price: $975,000
Cash invested: $1,242,000
Sale price: $1,601,000

We flipped a house 1670 S Wolfe Rd on a super busy street in Sunnyvale.
Basics: We purchased an outdated creepy small house next to Apple.
We received permits from the city to build a master suite with a full bath & walk in closet.
We added square footage & did a full gut job down to the studs w/new mechanicals, bathrooms, kitchen, etc.
The project time: 7 months from purchase to resale.
We purchased it In Mar2019 for $975k & successfully sold it for $1.601m on 12/9/19.

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

It was stupid cheap, only $975k (which is cheap for Sunnyvale)

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

From a wholesaler. We had money, they liked us, so we did business 🤑

How did you finance this deal?

Our money/hard money.

How did you add value to the deal?

We added square footage/master bedroom along with a full gut rehab.

What was the outcome?

We made fat Juicy 🍑💦 Profits! 

Lessons learned? Challenges?

Even busy streets can make you money if you buy right.

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

Myself & my partner who's a licensed GC.

Come out and check out our newest Juicy Flip we just sold on 1670 S Wolfe Rd. Sunnyvale. We received multiple offers, above asking, and cash.

Meet & Learn from other successful and active investors, lenders, wholesalers, landlords, rental property owners, airbnb landlords, Entrepreneurs, agents, and related professionals.

Learn & Earn with us, find deals, get partners, and level up your Real Estate Game.

There will be Food & Drinks too.

This deal was a complete rehab where we also built a master bedroom addition.

Why You Need to Drop Everything & Attend this Meetup:

[1] Have the chance to purchase & partner on Juicy deals not on the MLS, market, online, or known by anyone else.

[2] How to find deals in every city & every neighborhood

[3] How to buy properties for up to 50% below market value

[4] How to be a successful RE investor & set goals

[5] Get educated on where the real estate market is going.

You will walk away with so much info and knowledge to get started investing today.

Event put on by:
Michael Quinnell, Puya Rafia, & Emmanuel Fluker of We Buy Bay Area (WeBuyBayArea.com)

Thank you for taking us along on your journey. Hearing others making it by leaving the rat race is always great motivation! @Julie Kern

Hello Everyone, I've been prospecting/calling/bothering people in the Cobb/DeKalb/Fulton areas around Atlanta and I need an EXPERIENCED agent to refer listing leads to. 

I don't want to hand these people off to newbies or pt. If interested please PM with list of recent closed transactions in the last 6 months with links or mls print out. I'm also licensed too. Please also note which county you specialize in. 

If you know someone, feel free to link them to this post. Thanks for your help!

*under 15% are incorrect. 

Used it this month and last month, under 10% of my data was incorrect. 

Issues:

+I double checked the records against 2 other property profile sites that are available to CA realtors, Realist and the other can't remember. Under 10% were incorrect. I'd notice some records state incorrect owners or mortgage recording dates that are older than purchase dates. I had called some that listed previous owners not the current.   

+I also discovered that if you search for multifamily in other states/counties like in Texas, it can't tell if it's Multifamily (5+ doors) or 2-4 units. When you perform a search for multifamily in certain states/counties you'll notice the numbers are really low. I asked customer support and they stated because every county records different data and characteristics. Some do not list the # of units and some put both triplex and 10 unit property in same category. So if you search on 10-50 units you'll get an inaccurate list. I found this out calling and mailing to out of state owners. You think you're calling the owner of a commercial/multifamily property, but it's actually individual condo owners. This happened multiple times. 

+If you try to share it with someone else they require email verification or which may or may not work.  

It has great potential, and decent price if you're ok with some errors. 

Hey BP marketers,

Really quick question about postcard marketing.

People who are "Successful" with marketing with post cards, do you 

A) Mail merge the lead's name & address? Like "Hello Johnny, I want to buy your house @ 123 Elm St."

Or 

B) Just have a general "I'll buy your ****** property/house in probate/foreclosure/etc." ?

Trying to gauge if it makes a difference, a SIGNIFICANT because the price for 5000+ none customized postcards are $120 & less. Customized are 5x or more. I sent out 1200 customized with the leads name and address on the postcard. It received 3 calls (.25%) return rate. Obviously they have a much lower rate than letters.

Thanks for sharing any of your experiences!

@Kim Handelman Which mailing house are you referring to?

@Michael Prakash Read up on the rent controls on in Oakland. http://www2.oaklandnet.com/OAK058514 . Typically if you want to raise rents to market it requires evicting with just cause or paying them big $$$ to leave. You can only increase 1 time per year typically & even that's capped extremely low. This year is 1.7%. Fruitvale is a good decent area though. 

Wow Great work @Juan Diaz Really liking the fence. The baby blue really make it stand out. The Higher quality Victorians will really earn you the extra $$$ out in West Oakland.