All Forum Posts by: Paul L.

Investment Info:

Single-family residence fix & flip investment in Phillipsburg.

Purchase price: $65,000
Cash invested: $6,500
Sale price: $125,000

Paint

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

The whole thing of fix & flip.

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

Off market deal. Person called on ad.

How did you finance this deal?

Hardmoney

How did you add value to the deal?

Paint

What was the outcome?

Successful flip

Lessons learned? Challenges?

None really...

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

Only to sell...

Investment Info:

Single-family residence fix & flip investment in Phillipsburg.

Purchase price: $65,000
Cash invested: $6,500
Sale price: $125,000

Paint

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

The whole thing of fix & flip.

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

Off market deal. Person called on ad.

How did you finance this deal?

Hardmoney

How did you add value to the deal?

Paint

What was the outcome?

Successful flip

Lessons learned? Challenges?

None really...

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

Only to sell...

Investment Info:

Single-family residence fix & flip investment in Phillipsburg.

Purchase price: $50,000
Cash invested: $5,000
Sale price: $207,000

Fix & Flip

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

Good Deal, Fix & Flip

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

Found on the MLS. This deal needed to be approved by Medicare because owner was now living in a nursing home.

How did you finance this deal?

Hardmoney

How did you add value to the deal?

Renovations

What was the outcome?

Successful flip

Lessons learned? Challenges?

Need to get the houses renovated faster.

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

I worked through the listing agent by calling on the yard sign.

Investment Info:

Single-family residence fix & flip investment in Alpha.

Purchase price: $80,000
Cash invested: $8,000
Sale price: $199,000

Cosmetic Repair

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

Wanted to fix & flip

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

Bought this house from a wholesaler. Their one and only that I'm aware of.

How did you finance this deal?

Hardmoney

How did you add value to the deal?

Bought low, sold high by renovating.

What was the outcome?

Took on a contractor to do the work and made them a 50% partner.

Lessons learned? Challenges?

Don't take on a contractor partner. I found that I was better at finding subs to renovate the house rather than the contractor. The big reason why is they call subs to do the work and really don't shop prices. My contractor partner also did the work himself with his very old father after hours. Long story short, I don't use partners and I manage the work without doing the work and I'm much better off.

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

I used a company called Lima One Capital on that first deal which worked out well. I purchased the house from someone that got lucky finding this wholesale deal and who sold it to me. I find it very rare to find a good deal from a wholesaler in my area. My best deals were found by me.

What about the various software packages out there that provide lists of vacant, absentee owner, probate, etc. Anyone using those lists and are they any good?