All Forum Posts by: Justin Sacco

This was in march of 2021 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $330,000
Cash invested: $70,000

The house was listed for 340k. We toured the house and the relator told us no one has placed an offer yet. We offered 330k, 11k cash back at closing to comp for a poor sewer, attic insulation and new water heater. That was the deal that we closed on.

We put ~20k into improvements and had the home reappraised for 420k. Zillow current has it estimated at 485k. Our rate is 3.875 and we estimate a rent in the area of 2650.

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

To diversify my personal portfolio to begin adding real estate. This has been the best investment I've ever made to date.

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

Found via a local realtor who I was referred to by a previous client on mine. She helped a lot with the negotiations.

How did you finance this deal?

30yr and 15% down

How did you add value to the deal?

We did a pretty large remodel. Windows, siding, bathroom kitchen and a lot of painting

What was the outcome?

The best investment I've ever made

Lessons learned? Challenges?

This one seemed too good that they wont all work out this way.

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

Yes I did. In Portland Maine. Message me for the referral. Highly recommended

@Dan Weber awesome! Thanks for the recommendation. I will give her a call this week. Will be moving in May so just trying to get things in order before hand. 

Does anyone have any property manager recommendations in Southern Maine? I will be renting out my current SFH while I live out of state and this will be my first rental. From comments on here it sounds like a PM is strongly recommended for my scenario.

It was my impression that there is no need to explain that my plan is to wholesale the property and to approach the deal with the mindset I might buy it for myself or may sell the contract. 

So no I don’t plan on explaining me intentions to wholesale the property to the seller until I have a buyer that is willing to close the deal. 

Hey all, this is my first post.. woo hoo.

My question is: If have a property under contract and am currently marketing it to buyers, how do you go about showing the property to the buyers?

If the owner of the property is still living there, wouldn't it be weird to come back with a second person to view the property? Should the buyer view the property on their own, and if so how do you position this to the seller? 

I imagine in most instances more than one potential buyer will need to view the property until one decides to move forward with the deal.. how should this process go? 

Or am I thinking of this all wrong and once the property is under contract I can send who ever I want to view it with the intention of selling them the contract? I still think this would make the deal awkward. 

Any advice is greatly appreciated!