All Forum Posts by: Thomas Darbro

I looked at a few KCMO, Tulsa, Joplin and Wichita opportunities but, I already have a local team so the management cost is lower and the cash on cash has been better for my local deals. 

Good afternoon Jaycee. 

I spent around 15K in repairs.

My statement about starting a land bank was a off handed comment probably incorrectly using a term to reference my 1st investment property. I currently have 4 residential locations and 2 commercial locations. 

Investment Info:

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

Purchase price: $35,000
Cash invested: $15,000

4plex with major repairs needed. Minimum standard repairs made to make it functional. Re-model and improvements planned but still on hold.

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

Great deal.

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

Local seller, 1 on 1 negotiations.

How did you finance this deal?

Owner carry

How did you add value to the deal?

Sweat equity.

What was the outcome?

it pays for itself.

Lessons learned? Challenges?

Always more repairs than expected.

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

Me!