All Forum Posts by: Zack Bruce Lindsay

Hey BP Fam!

Just checking in to see if anyone still made the trip out to New Orleans, even though the conference was canceled (rightly so).

I’d like to put together a meet up for anyone that’s made it out and still looking to get those real estate juices flowing.

Please drop a line if you’re interested and I’ll follow up with more specifics.

All the best!

Zack B. Lindsay

@Megan Winterberg

Have you considered the Phoenix market? This past May the U.S. Census Bureau announced 15 cities that had the largest growth in raw numbers since the last census, in 2010. Phoenix came in at #1.

The current inventory here is quite low, 0.6 months of supply. The demand heavily favors landlords and appreciation.

Thank you, Dave! I definitely learned a lot. Partnering with the contractor was a great way to get started and learn that side of the process. It would well for a while, lol. 

I've got some before and after on my profile... not sure why only one come up in the thread. Any insight on that would be appreciated. People love the before and afters!  Feel free to take a look :) 

Thank you, Marlen! There are some before and after photos in the post on my profile. It seems like only one photo shows up in the thread.  

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $155,000

I just recently came across a post on the BP forum "Seeking Biggest Mistakes" and figured I'd share mine. Biggest mistakes is a great topic for a story. Honestly, I've learned so much from the mistakes that I've made. In a way I'm grateful for what I've gained through the difficulties brought on by those mistakes. Though, I'm definitely trying to navigate them differently from here on out.
A story of mistakes? Have I got a story of mistakes for you!

How did you add value to the deal?

I made a video that summaries most of the story pretty well. It's on Instagram.
If you'd like to check it out, here's the link:

https://www.instagram.com/tv/B...

What was the outcome?

This was my first ever deal. A lease was signed 3 months ago and the home is finally fulfilling its original intention of being a rental, 6 years later! Even in the midst of the Covid pandemic I was able to find a renter for $1,900 per month - breaking records for the area. I'm in the process of refinancing the cost of the build and renovations out of the property, approximately 155k.
The listing if you're curious:
https://www.flexmls.com/share/3dNDd/6014-S-45TH-PL-Phoenix-AZ-85042

Hey All!

I'm 32 y/o. I purchased my first property/investment when I was 25 y/o. That first deal took quite a looooooooooooooooong time before it ever saw any cash flow; around 6 years (story for another day). 

Currently I have 8 doors. 1 Condo (former primary residence), 4 single family homes (one undergoing renovations), and one beautiful triplex. 

Cash flowing netting just above 5k per month. 

@Sean H.

I just learned that If you buy a new or pre-owned “heavy” (6,000 lbs curb weight) SUV, pickup, or van and put it to use in your business, you are potentially eligible for 100% first-year bonus depreciation. There are some cavities

- That’s one of the more “huge” deductions I’ve heard of. But, having use for a vehicle that heavy is the kicker.

Investment Info:

Single-family residence fix & flip investment in Phoenix.

Purchase price: $115,000
Cash invested: $30,000
Sale price: $180,000

This was the first flip project that I saw through from start to finish. My contractor and I picked it up from a wholesaler for 115k. It was a 2/1, which we converted into a 4/2, Investing 30k into the reno.
I was the listing agent on the sale. We netted 22k form the project.

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

My contractor brought the deal to me. I had never done a flip before and figured this would be a good first project to try my hand at.

How did you finance this deal?

CASH.

How did you add value to the deal?

The property was originally a 2 bed / 1 bath at about 850 sqft. The car port was converted into 2 additional bedrooms and inside laundry. The kitchen and original bath room were reconfigured in make space for an additional bath room. With those modifications the home was sold as a 4 bed / 2 bath at 1,130 sqft.

What was the outcome?

I partnered with my contractor and we split the cost of the renovations. My though at the time was that if I had a partner/contractor with some skin in the game that the project would move along quickly and be done in a quality fashion.
My contractor and I both made about 11k on the flip.

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

I was the listing agent for the sale of the home.