All Forum Posts by: Susan S Morris

Will do!! Thanks, Chris!

Hey @Chris Webb! Thanks for reaching out. No - this was not a house hack. I am also a Class A contractor and we do the work ourselves which saves a ton. In addition, my background is interior design and I used a lot of creativity instead of money. 

Hi, Taylor! The majority of the costs went to:

1. Extend hardwood floors through the kitchen and half bath

2. Kitchen reno

3. 2 full/3 half bath reno

4. Landscaping (it was a disaster)

Thanks for reaching out!

Thank you Mike!

Hey! Just posted a few - unfortunately limited to 6

Hey Brandon! Nice to meet you. I am the Broker/Owner of Open Gate Realty Group in Midlothian.

I have had just the opposite outcome. Possibly it's the type of houses that those folks bought. My investments are beach boxes, no more than 1200 sqft., no pool, no hot tubs, all located between the byways. The first one I bought in May of 2017 is completely paid off all by Airbnb. By managing them myself through Airbnb, I don't have the 17-23% fees that beach management companies charge.

Hope this helps!

Investment Info:

Single-family residence fix & flip investment in Richmond.

Purchase price: $318,000
Cash invested: $15,000
Sale price: $380,000

2900s sqft. 5 bed, 3.1 bath single family residence in established neighborhood

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $410,000
Cash invested: $40,000
Sale price: $612,000

Single family residence - 5 bedroom, 2 full, 2 half bath - 4000sqft

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

The potential ROI

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

Off market listing

How did you finance this deal?

Private investor

How did you add value to the deal?

Doing the work and design ourselves

What was the outcome?

$162K profit

Lessons learned? Challenges?

COVID backorders slowed down our completion, putting us behind schedule

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

Susan Morris

Investment Info:

Single-family residence buy & hold investment in Kill Devil Hills.

Purchase price: $325,000
Cash invested: $25,000

3 bed, 2 bath beach box. Approximately 1000 sqft

Investment Info:

Single-family residence buy & hold investment in Nags Head.

Purchase price: $325,000
Cash invested: $50,000

3 bed, 2 bath beach box. 980 square feet