All Forum Posts by: Seth Haak

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $112,000
Cash invested: $60,000

The house was in pretty poor condition. We updated all plumbing/electrical/kitchen/bathroom and bedrooms. Its a pretty small house about 800sf but it really checked the box we were looking for as far as affordable housing.

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

This checked our box for affordable housing.

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

The seller inherited the property, he didn't want to deal with the idea of "tenants messing up his moms house" so he was motivated to sell and take the cash.

How did you finance this deal?

We financed with traditional financing.

How did you add value to the deal?

We remodeled the key parts of the home. We updated all plumbing/electrical/kitchen/bathroom and bedrooms

What was the outcome?

Solid cash flow

Lessons learned? Challenges?

Yes, we did way too many updates ourselves and should have hired things out to be more efficient.

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

Yes we have some awesome local lenders that we would be glad to share with people. Please reach out!

Thank you Jim I agree!

Sounds good, I’m thinking the end of the month. I’ll be in touch

Haha thanks man, we have been unbelievably blessed. God is amazing

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Great Falls.

Purchase price: $220,000

VA Purchase

@Kris L. The house was dated and the basement slab was heaved about 4 in but the cracks had been sealed and didn't create a large tripping hazard. The engineer report showed the footer was 100%, it was odd to me that the footer was fine but the slab was certainly not. The slab was deemed safe by the appraiser and passed the inspection. What I found was the builder was lazy and didn't put any of the rebar on chairs when they poured the slab.... the rebar was resting under the slab and didn't provide any tensile strength for the rebar. So I ripped out the pad, installed new rebar properly, poured concrete and  built 2 more bedrooms/large family room/full bath and laundry room. 1209 SF area improvement

Hey BP Members of Great Falls, Montana!

Just wanted to get a poll of Great Falls to see who would be interested in coming to a meet-up and active in BP? The meetup will be nothing formal just a casual hang out to interact with other investors in the area to discuss deals, hopes and dreams etc ..... I really enjoy getting to know other like minded people! 

Let me know!

Thanks! @Sam Williams 

Investment Info:

Single-family residence fix & flip investment in Great Falls.

Purchase price: $187,000
Cash invested: $32,500
Sale price: $278,000

Bought with VA, live in flip.

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

MLS