All Forum Posts by: Randy Odegaard

Thank you.Will do.

Hello Rob,
Thanks for reaching out to us.  My wife Jodie and I are investors from NJ.  I am retired from the NYC Carpenters union; I have owned general contracting companies, and a cabinet manufacturing company for fortune 500 companies in Manhattan for 11 years.  My wife is also retired and is very good with computers.  We've been doing research to determine the best place(s) to invest in Alabama for long term rentals and cash flow.

We have two companies - one in which we buy tax deed properties (we are presently researching Birmingham), and another company in which we intend to buy distressed properties that are under market value.  We are looking to buy cash-flowing rental properties at about 70-75% (including rehab) of market value that we can fix up and rent out.  We are all cash buyers looking to buy 2 properties this year with an ARV of $150,000.  For the second company we are interested in the Huntsville market but we will look at BHAM also, if we can put together the right team.  We are looking for the best realtor, PM, contractors, handyman, lenders, and wholesalers.  We would love to pick up a run down duplex in a good area and rent it out to Section 8.

At present we own a small share of an 88-unit complex in Tennessee, one unit in NJ, and have flipped two properties in Florida.

For the right team member, we give excellent referrals and a cash bonus once rented.

Randy
p.s.Jodie and I also met in church!

Calling all property managers, lenders, contractors and wholesalers!  Looking to build a portfolio of B class properties.  Let's talk!

The entire process, including termite remediation, took six months -- too long!  Some before pictures below

Main BathFront EntranceKitchenTermite Damage

Investment Info:

Large multi-family (5+ units) commercial investment investment in Madison.

Purchase price: $3,200,000
Cash invested: $25,000

88 unit apartment complex close to Nashville. We pooled our interest with a group of investors

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

offered to us by investor pool

How did you finance this deal?

cash

What was the outcome?

property continues to be held by investor pool

Investment Info:

Single-family residence fix & flip investment in Spring Hill.

Purchase price: $15,000
Cash invested: $94,702
Sale price: $199,000

See listing: https://www.zillow.com/homes/11443-Pike-Ave-Spring-Hill,-FL,-34609_rb/44832599_zpid/

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

we are tax deed investors

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

via tax deed listings in Hernando county. Bid on property - won at $15k

How did you finance this deal?

self financed

How did you add value to the deal?

Total rehab

What was the outcome?

rehabbed and flipped

Lessons learned? Challenges?

termite damage can be very expensive

having trouble finding the replay