All Forum Posts by: Shane Dolinski

Hey Ray! I invest here as well. I have STR, MTR, and Long term rentals. I am also active with Flips and own a few 4 plexes...

Im a licensed NM Realtor would be happy to help set up a few searches, look at properties (Virtually as well), and tell you more about specific areas of town with the pro's and con's of each. 

Love to Help!

Shane

Investment Info:

Single-family residence wholesale investment.

Purchase price: $175,000
Sale price: $205,000

Purchased this cash. After reviewing the cost to rehab and the area of town, I decided to Wholesale for a quick profit.

Sold it on a Real Estate Contract (Owner Financing) with $100k down, the balance is financed at 10% for 13 months, then the loan is called.

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

When this opportunity came to me I intended on rehabbing it. In the end it was best to just turn it.

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

A previous Client and employer of mine came to me wanting to unload a property. I thought it was worth less, but I want to open a door with this client to potentially get more of his resi props. In the end I still made a profit and helped a new investor.

How did you finance this deal?

Paid Cash, Sold on a Contract

How did you add value to the deal?

Did not

What was the outcome?

See above

Investment Info:

Townhouse fix & flip investment.

Purchase price: $135,000
Cash invested: $65,000
Sale price: $345,000

Had an opportunity to purchase this property from the owner...I own the next door home, it is an Airbnb. The owner at the time spiraled into dimentia, and his son wanted a quick sell to help pay for his home care. Complete renovation!

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

I know of the property and the owner's issues so this was an easy move for me. I know it was complete renovation and the ability to rehab this property and increase the value of my house next door was appealing.

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

When I foulnd out the owner had dimentia I reached out to his out of state son and offerred him a stay at my Airbnb, next door. I told him I could list his home or if he preferref I could buy it cash and close quickly for wholesale pirce. He chose the WS route and we made a deal.

How did you finance this deal?

Cash

How did you add value to the deal?

Conplete renovation from floor to roof and stucco and everything in between.

What was the outcome?

Huge profit on a 90 day investment

Lessons learned? Challenges?

The contracto I used needed baby sitting and the attention to detail was lacking so half way through the reno I was more particular and communicated my expectations clearly and ofter

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

I am a licensed broker in NM

Investment Info:

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

Purchase price: $450,000
Cash invested: $120,000

This 4 plex came across my desk. It was a 4 plex near my other one. It is in a desirable area. Owner wnateds an REC and offered it at 4.5% with 20% down.

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

The REC at such a good rate was very appealing to me as I have several mortgages and it is quite the pain to get another loan. The price was fair and the rents were under market.

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

It came up on a drip search and the fact that the owner WANTED an REC (for tax purposes he didn't want to take a lump sum depreciation in 1 year). We agreed to a full price, at the owner suggested, under market rate.

How did you finance this deal?

Owner financing. 10 year AMO.

How did you add value to the deal?

we remodeled 3 of the 4 units, with a 0% interest credit card we opened on this LLC. We raised the rent in each unit and turned one of them into and Airbnb to help with the large mortgage payment. Didn't cost much to furnish as it is only 900 sq/ft and we are doubling the rent in that unit, making this property cash flow nicely.

What was the outcome?

Cash flowing property, bulding equity.

Lessons learned? Challenges?

We could've negotiated this one better as it needed everything. Windows, updated kitchens/bathrooms, roof...

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

ME!

Investment Info:

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

Purchase price: $505,000
Cash invested: $110,000

Bought this 4 plex with investor partners. Rents were way below market. We gave a 60 day notice and raised all the rents to market value, immediately increasing property's value, cash flow, cap rate. etc. We will continue to add value as tenants move out and remodel.

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

I wanted to diversify from Airbnb's and Single family homes. This area is good, close to my own residence, and looks great.

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

I set up a search for MF units available in my desired area. This one came up and I quickly reached out to the realtor ( a colleague) and negotiated a good deal for myself

How did you finance this deal?

20% down, conventional lending through Chase Bank.

How did you add value to the deal?

We immediately increased rents. Remodeled one unit.

What was the outcome?

Cash flow is strong, 3% rent increase annually in the leases. Very happy with outcome so far.

Lessons learned? Challenges?

There was quite a bit of deferred maintenance in this one. We negotaited a $15 discount in lieu of repairs, but in retrospect, I should've asked for more off or them to replace parts of the roof.

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

Myself :)

 Thank you! Looking to purchase another as well...that will make 4!

 They do allow them, but they are tightening restrictions. There will be a day when they stop accepting more and just allow those with them to continue.

Thank you! It has been a great investment nd gave me the confidence to buy several more!

 Great info Mike! Thank you.

I would like to make a small profit, and live in each space a month or two out of the year. Is it reasonable to find property managers that are trustworthy to do short or medium term rentals? That makes sense about Thailand...although owning a condo in which you are making a small profit and able to visit for month(s) at a time for free (more or less) does sound appealing even though the ownership is just air...In Mexico I thought the you could only lease the ground there for 99 years. Do you own the land?

Hello!

I love travelling internationally. As an investor in Short Term and Medium Term Rentals, I really want to branch out and look to investing in these type of properties around the world. My goal is to have several of these homes in several locations around the world in places I want to stay and 'retire' and travel to my homes around the world.

My questions to you all is, does anyone have any experience doing this. What countries are friendly to do this in as a foreigner. I am sure some countries this may not be possible. Some countries you need to have citizenship, some you cannot own only lease, some may be tough to find good management, local tax implications, etc.

I love Europe (I have heard, Spain and Ireland are friendly to foreign investors), South America, Croatia, Thailand, Carribbean, etc...

Any advise or direction would be great!

Thank you!

Shane Dolinski

Realtor -- Owner/ Elevated Real Estate Services

Albuquerque, NM