All Forum Posts by: Rachel Grunn

@John Apple maybe an unpopular opinion, but I would cut your losses and move on. I had this happen to me too and I talked with my broker and they said “yes it is enforceable and you can sue for compensation” but ultimately, I didn’t want to be known as the agent who sues people, so I just dusted myself off and got back on the horse. I think reaching out to see where it went wrong could be good, though.

Come out to see a bright and beautiful condo in the heart of Dallas, Texas. Located in popular Oak Lawn, this neighborhood boasts an array of trendy shops, restaurants, and bars. We will be holding the condo open on Sunday March 14th from 1-3pm. Come on by!

Investment Info:

Condo fix & flip investment in Denton.

Purchase price: $100,000
Cash invested: $12,000
Sale price: $138,000

Another light rehab on a flip in Denton, TX. I love condos because the HOA addresses any roof or foundation issues. After purchase, the roof started leaking and the HOA fixed it quickly at no extra cost to me. I don't do sexy HGTV rehabs, but they are profitable!

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

Condos are great because the HOA takes care of the big ticket items.

How did you finance this deal?

Hard Money. Love leverage!

How did you add value to the deal?

A light cosmetic rehab. We added granite to this one (gasp!) – the first sexy thing I've ever done to any of my flips haha.

What was the outcome?

Great margin on this little guy. I love the easy flips that only need about 2 weeks and $15,000 worth of work.

Lessons learned? Challenges?

CREATE AN APPRAISAL PACKAGE! I created an appraisal package for the appraiser and left it on the counter before he came to the home. It had an itemized list of upgrades and the cost of them. I also included the multiple offers (with personal info redacted) that we got at and above asking price. This shows the appraiser that the home is worth the value we're asking.

Investment Info:

Single-family residence fix & flip investment in Oak Point.

Purchase price: $174,000
Cash invested: $26,000
Sale price: $243,000

A simple fix + flip in North Dallas. I used hard money, so holding costs were expensive, but I netted about $27,000 on the deal.

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

I love simple rehabs. It's the best investment. No scary foundation or roof issues and just cosmetic upgrades needed. Also makes the hold time that much shorter, which is necessary when using hard money.

How did you finance this deal?

Hard Money

How did you add value to the deal?

A light cosmetic rehab.

What was the outcome?

Massive margins in a greatly appreciating neighborhood of North Dallas, TX!

@Lucia Rushton I’ve requested to connect with her. Thanks!

My Dallas wholesaler is retiring and I'm in search of a new lead-generator. Her process was really streamlined and turn-key, which was great for me. Eager to find another wholesaler who can provide deals at (at least) 70% ARV.

If you or someone you know is a wholesaler, please connect — would love to talk shop.

 Thanks for this super insightful information Alora! I’m making notes!

I will do, thanks Aladdin :) 

 Thanks Nick!!

Wow this is invaluable information! Thank you! I wasn’t planning on actually purchasing this property (I think it’s pending anyway). Just want to get more and more familiar with the calculators so that I can spot a great deal right away. Thought I’d throw it on this forum for helpful peer review. Indianapolis is a target area for me, though. Thanks again Ric :)