All Forum Posts by: Roxanne Wiley

Thank you so much! It’s pretty awesome!

Investment Info:

Condo buy & hold investment.

Purchase price: $440,000

We did a 1031 exchange from one vacation rental to another.

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

Lakewood Ranch is now the #1 PUD in the US, we visited Jan 2022 and saw the opportunity.

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

From our Realtor, we got $10k under list and home inspection repairs.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

It was turn key

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

Had a Realtor, we are getting our FL license so would love to be a resource for you!

Investment Info:

Single-family residence buy & hold investment in Ocean City.

Purchase price: $275,000
Cash invested: $10,000
Sale price: $375,000

a beachfront rental unit for 9 months of the year so if you're looking for ocean front in ocean city, MD please let us know!
We listed in late Feb and settled on March 16th, cash deal, took the proceeds and doing a 1031 exchange for a condo in Bradenton, FL!

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

A client shared with us, we talked about terms and off we went

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

A client told us about it

How did you finance this deal?

Owner financing

How did you add value to the deal?

We replaced the furnace/ac, all new flooring, paint, updated the 1 bathroom

Investment Info:

Single-family residence buy & hold investment in Essex.

Purchase price: $208,000
Cash invested: $55,000

We had this home listed, had it under contract twice, days before closing on both transactions, the loans were denied. Went to the seller with the idea of buying their home and it was a win-win.

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

The numbers made sense. We now have the mindset when we go on a listing appt, can we buy it, who do we know who can buy it or should it go on the MLS?

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

One of our own listings, crunched the numbers, took it to the seller and it worked out

How did you finance this deal?

20% down conventional financing

How did you add value to the deal?

Turnkey, we will make updates down the road such as replacing the carpet, removing wallpaper

What was the outcome?

Win-Win, sellers were able to continue on with their retirement purchase

Lessons learned? Challenges?

No challenges, we were our own easy, smooth transaction

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

Our lender, Bob O'connell with Mainstreet Home Loans, we work with him on all of our personal transactions and of course referring him to our clients

HI Brian, for some reason I didn't see your response. We don't see it that way. Tenants are helping us build our wealth, we are very selective and appreciative. Since we are in the business, we know a lot of great people, if we need more time, we will hire a property manager.

Investment Info:

Townhouse buy & hold investment in Baltimore.

This was our primary residence for 12 years and was able to keep it as a rental property, cash flows $400 a month.

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

We were buying a bigger home and we did't have to sell to purchase

How did you add value to the deal?

With the cash flow, will be putting in a 3rd full bath

Lessons learned? Challenges?

Since we are in the business, it was simple, I actually found the tenants on Facebook marketplace, not even through our MLS

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

We are Realtors, be happy to help others build their wealth