All Forum Posts by: Nick Monge

Does anybody have an assignment contract? I know this thread is a few years old..

The RSVP link doesn't seem to be working.

Hello Denver (area) investors!!

I wanted to throw together a virtual meeting for us to chat, network, and build our relationships. There will be no sales pitching, just a casual conversation between like-minded individuals. Skillsets can range from brand new (never done a deal before) to a million doors.. We can discuss all of our strategies, potentially work together, and hold each other accountable.

I'm a people person and i think networking is important..

A short snippet about me:

My name is Nick Monge. I moved to Denver in March, prior-military.. I have done mostly buy-hold but now I'm getting into flips and BRRRRs. I currently own 11 doors and getting ready to expand rapidly. I'm a licensed agent in Hawaii and getting my brokers license here in Colorado at the end of the month..

Use the link to attend the meeting on the 11th (Monday) at 4pm MST.

I'd say find a co-signer.

I closed on one. It was actually easier than normal to get it inspected/appraised.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Sylacauga.

Purchase price: $70,000
Cash invested: $19,000

Duplex near Birmingham. Easy buy-hold.

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

Long term wealth, cash flow.

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

My agent.

How did you finance this deal?

Used private money to fund the down payment (15% PP) bank financing for the rest.

How did you add value to the deal?

Did some minor cosmetic repairs, $1200 in work.

What was the outcome?

Rented both units for $100 more than expected.

Lessons learned? Challenges?

None

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

My agent in Birmingham.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Sylacauga.

Purchase price: $70,000
Cash invested: $19,000

Duplex

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

Long term wealth, cash flow.

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

My agent.

How did you finance this deal?

Used private money to fund the down payment (15% PP) bank financing for the rest.

How did you add value to the deal?

Did some minor cosmetic repairs, $1200 in work.

What was the outcome?

Rented both units for $100 more than expected.

Lessons learned? Challenges?

None

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

My agent in Birmingham.

Investment Info:

Single-family residence buy & hold investment in Birmingham.

Purchase price: $65,000

Bought this property for $65,000 cash. Put $23,000 into it putting my total at $88,000. After seasoning, I was able to refinance and pull out 75% ARV of $125,000 ($93,750). $0 in the deal, with an extra $5,750 in my pocket and $180 a month in cash flow. NEXT!!

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

I think BRRRRs are some of the most solid investment opportunities there are.

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

My agent, it was a foreclosure in a nice neighborhood.

How did you finance this deal?

Cash.

How did you add value to the deal?

Cosmetic rehab.

What was the outcome?

$0 in the deal. $5,750 in my pocket and $180 a month in cash flow.

Lessons learned? Challenges?

This was my first deal. I learned about an app called Joist that was easy to pay my contractor.

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

I worked with an excellent agent. I can refer her if you message me.

I'll be there!

Me! I'm here on island and have friends doing many flips locally. Also, I'm a licensed agent if you need help with selling.