All Forum Posts by: Spencer Carpenter

I'm no longer attending Best Ever Conference and selling my ticket. I'm selling for $700, as I bought it last year at the event, so I was able to get it at the early bird pricing, instead of the $1600 they are charging right now.

Shoot me a message if you're interested in taking it off my hands.

Thanks!

For the 1 Year Anniversary of the Lancaster Area Real Estate Investor Meetup, we will have Matt Faircloth coming to give his predictions on the housing market going into 2024, laying out what you should know and strategies to implement, and doing a Q&A!

Matt Faircloth has been a full-time investor for 15 years. In that time he has successfully completed projects involving dozens of fix and flips, office buildings, single family homes, and apartment buildings. He has amassed a portfolio of over 1000+ units and raised tens of millions of equity for these real estate projects in both debt and equity positions for these deals from passive investors.

Matt is also the author of Raising Private Capital, How to Build your Real Estate Empire with Other People's Money, published by BiggerPockets Publishing, which has sold over 50,000 copies and is an Amazon Best Seller.

Whether you're a seasoned investor or brand new, you will make invaluable connections at the monthly Lancaster Area Real Estate Investors Meetup!

This is not our normal evening event. It will be held from 12:00 PM - 2:00 PM with lunch provided and it will be $10 to attend - LIMITED to 50 attendees! We expect this to sell out so don't wait to get your tickets!!

ALL proceeds will be donated to Water Street Ministries - https://wsm.org/

Reserve your seat here >>> https://www.meetup.com/lancaster-area.../events/297384391/

Please park BEHIND the Coldwell Banker Realty office. There you will see a door propped open to the room we are meeting in. 

Food and drinks are provided by Capstone Land Transfer, LLC.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $155,000
Cash invested: $10,000
Sale price: $195,000

2bd/1.5ba Townhouse in Lancaster, PA

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

These would be my first flips. I liked that it was going to be mainly a cosmetic rehab - carpet, LVP flooring, painting, some electric, light plumbing, and refinished countertops. Additionally, with the market being unpredictable with rising interest rates, I like that I had the opportunity to possibly provide homes that were less than 15 years old to young couples that were priced out of the market from 2020-2022.

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

This property came to me packaged with 27 Chesapeake through a wholesaler just before Christmas of 2022 and we closed on it before the end of the year. I asked for $10k less and settled on $5k less.

How did you finance this deal?

$10k of my own money, $25k from my mom, $45k from a private lender, and the rest from hard money.

How did you add value to the deal?

Carpet, LVP flooring, painting, new lighting fixtures and can less recessed lights, new light switches/outlets, GFIs, light plumbing, refinished countertops, and light landscaping.

What was the outcome?

It sold before we took it to market to someone that came to a meetup I host. When all was said and done, I lost $500 on paper. Technically I paid $5k more on this property than I paid on the property I bought it with. If you dollar cost average them though, I made a little over $2k.

Lessons learned? Challenges?

Holding costs and the time you allow tenants to stay can make a big difference if you have tight margins. I allowed the tenants to stay for 45 days, didn't charge them any rent, and gave them $1k cash when they left. I wouldn't do this differently, however I now know how to plan those costs better.

I also learned to leave carpet and vinyl flooring to the professionals. They efficient and typically worth the price you pay to have the job done right and quickly.

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

Realtor - Brittany Fellin - https://kghomegroup.com/about-our-team/
Painter - Mark Campbell - https://www.instagram.com/mark_legions
Wholesaler - Kyle McCorkel - https://www.biggerpockets.com/users/ksm5000

Investment Info:

Townhouse fix & flip investment.

Purchase price: $150,000
Cash invested: $9,000
Sale price: $220,000

2bd/1.5ba Townhouse in Lancaster, PA

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

These would be my first flips. I liked that it was going to be mainly a cosmetic rehab - carpet, LVP flooring, painting, some electric, light plumbing, and refinished countertops. Additionally, with the market being unpredictable with rising interest rates, I like that I had the opportunity to possibly provide homes that were less than 15 years old to young couples that were priced out of the market from 2020-2022.

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

This property came to me packaged with 31 Chesapeake through a wholesaler just before Christmas of 2022 and we closed on it before the end of the year. I asked for $10k less and settled on $5k less.

How did you finance this deal?

$10k of my own money, $25k from my mom, $45k from a private lender, and the rest from hard money.

How did you add value to the deal?

Carpet, LVP flooring, painting, new lighting fixtures and can less recessed lights, new light switches/outlets, GFIs, light plumbing, refinished countertops, and light landscaping.

What was the outcome?

It sold before we took it to market for $10k over what I originally was going to list it for, resulting in a $25k+ profit.

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

Realtor - Brittany Fellin - https://kghomegroup.com/about-...
Painter - Mark Campbell - https://www.instagram.com/mark...
Wholesaler - Kyle McCorkel - https://www.biggerpockets.com/...

Join local investors, syndicators, flippers, wholesalers, hard money lenders, private money lenders, contractors, and investor-friendly agents for a couple hours of networking, resource building and knowledge sharing.

Whether you're a seasoned investor or brand new, you will make invaluable connections at the monthly Lancaster Area Real Estate Investors Meetup!

Please park BEHIND the Coldwell Banker Realty office. There you will see a door propped open to the room we are meeting in.

Food and drinks are provided by Capstone Land Transfer, LLC

RSVP on Meetup - https://www.meetup.com/lancast...

RSVP on Facebook - https://www.facebook.com/event...

I'll be there!

I'm looking for guidance on leasing to an urgent care company.

The two closest hospitals to my town are closing January 1st, 2022. The nearest hospitals will be 30+ miles away. I see a void that is necessary to be fill, but also an opportunity to build a commercial space for an urgent care facility that is built to their needs, however I don't know how to go about contacting a company in this space. It might be as simple as reaching out, but any advice on the matter is greatly appreciated.