All Forum Posts by: Sean Robertson

@Shane Craig

Great topic

1) got from bp episode! I give a $50 a month discount on rent (paid every 3rd month) if the rent is paid by the first. All of the yard and outdoor maintenance is done. Finally all terms of the lease are met.

2) minimum screening standards when choosing the tenants

3) move in book with all contracts and contractors numbers (24/7 plumbers and electrical)

@Micah Shelton thanks for sharing. Looks like solid numbers. Could rent out the rooms and hold it for a while.

@Anthony Chara

Thank you for getting back. We have been down 4 times. Looking forward to getting back later this year. I see a lot of very rough projects at high prices.

@Anthony Chara

Wanted to see if you ended up finding a place in st Thomas?

@Gregory Bennett

My wife and I would be interested in any notes you have. We currently live in Oregon and have one short term and one long term home here. Looking to make our next long term in st Thomas. Possibly mult unit?

Investment Info:

Single-family residence private money loan investment in Rockaway Bch.

Purchase price: $40,000
Cash invested: $21,000

small beach cabin in rockaway beach in very bad shape. still under remodel learning a lot. looking for my next project.

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

The opportunity to get in at a low price in a great market.

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

Family owned. had been run down and not used for 10 years. fell into disrepair.

How did you finance this deal?

Cash/ owner finance.

What was the outcome?

Vacation rental.

Lessons learned? Challenges?

Once you start down the road of permits there is no going back. everything must be gone through.

thanks to everyone. deal fell through. on to the next.

Well thank you to everyone the deal fell through in the final HR. starting to look for another

@Laurie Clarkston That looks really good. I don't see myself doing that nice of finishes right away. but some day I hope mine will look that good. Ill post photos if it all goes through.  I did find the original ceilings are lofted and all in great shape.  keep up the photos!!

Yes we have gotten the loan approved. I will be using a heloc from my first Property for the down. and possibly a 401k load for the rehab. Just got the okay on the sewer scope, foundation, and the heat. so that leaves Wiring, both kitchen remodel, bathroom update. I was possibly going to do a lot of wiring and framing myself.  thanks for the input. @chrissvendsen