All Forum Posts by: Robert Lampert

Investment Info:

Single-family residence fix & flip investment in Longmont, CO.

Purchase price: $261,000
Cash invested: $40,000
Sale price: $325,000

Originally meant to be a buy and hold, but my wife is risk adverse & we wound up selling due to the Covid-19 outbreak.

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

Opportunity to buy under market value.

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

Wholesaler found me here on BP forums.

How did you finance this deal?

Combination of hard money and savings.

How did you add value to the deal?

Sweat equity, renovations.

What was the outcome?

A lot of sleepless nights.  Lost money in the end paying interest & selling the property.

Lessons learned? Challenges?

Learned a lot more doing the deal than from years of studying rei.

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

Justin Cooper - Pine Financial Group 
Zach Blake - New Western Aquisitions
Naomi Quezada - Tiago Title
Harlie Maahs - Atlas Real Estate
Pamela Gravning - West and Main Homes 
Kate Hatfield - Guardian Title 
Lonnie Glessner - DK Mortgages

You might try Northglenn Heating & Air Conditioning.  I had a thermocouple in a furnace go out and the guy at Lowes recommended them. Good luck!

Thanks for the advice  @Brandon L.!  Kudos to you for committing to writing a blog post a day almost two years ago!  

"Learn before you earn."  That's what I'd like to do.  I plan to focus on and master one area of investing.  I also do a lot of reading and would not want to ask a question that's potentially already been asked and answered a thousand times over.

Greetings! My name is Robert. I'm a husband, father and rookie investor from Northglenn, Colorado. My journey into REI started in 2007 when I started managing a fourplex for my grandfather. That property was sold as a result of the crash, and now the Berkeley/West Highland areas are flourishing.

I am interested in real estate and commercial investing.  I intend to get to know as many of you as are willing, and to learn as much as possible.  

  Right now, my plan is to focus on a single niche, and then branch out into other forms of investing after I get some experience.

I've observed BP's community to be very forthcoming in the sharing of information and I hope to be able to contribute one day myself.

  It can be a bit overwhelming to get started.  Having not ventured down this path before, there's so much that I am ignorant of.  I don't yet know what I don't know.  I'm not even sure which questions to ask.

Please feel free to reach out and say Hello!

I pre-ordered a physical copy on amazon.  I'm going order another one through the BP store for the bonus content.

@Collin Schwartz Thank you for sharing.  I appreciate your transparency.  What happens with the HELOC after the initial purchase? Did you pay it back or use it to fund other deals?  I am considering using a HELOC to get started in REI. My goal is to speak with five to seven different lenders before I choose one.

What a wonderful idea.  I'd love to hear how this worked out for you.

This is a great idea!  There are so many possibilities.  Although tents aren't allowed for Airbnb right @James Carlson?  Where does a luxury tent fit in?  How about tepees?  Can you use, say canvas on a frame and call it something other than a tent?

Greetings and Welcome!

Good episode.  Fascinating stuff!  Thanks for sharing Rodolfo.