Investment Info:

Single-family residence fix & flip investment in Covington.

Purchase price: $55,000

Sale price: $131,250

Fix and Flip Purchase. Lead was brought to us through Facebook sphere. $2...

Hey BP fam 👋After five years of lurking, learning, and loving this platform from the sidelines, I figured it was finally time to post and introduce myself.

Hey everyone —I’ve been quietly investing and reading BP for years, but finally decided it’s time to give back and be more active here.I’m Micah — a Chicago-based investor who started with zero experience, saved up working a W-2, and bought my first multifamily in Logan Square in 2024 Fast forward to today, and I’ve built a 7-unit portfolio, founded a real estate coaching business, and helped close over $175M in larger commercial deals through my work in acquisitions.I work mostly with first-timeinvestors in their 20s and 30s who want to buy their first rental but are overwhelmed with where to start.

Was a great learning experience, especially when it came to design and quality of final materials based on surrounding market.

It's so nice to see that after your hard work you finally see success, I could relate to that I also needed this final push to get started, and now I did already my first successful fix & flip, and I just listed 2 more flips for sale, and the excitement is through the roof.Good luck. 

I found a small company and a mentor and I finally closed my first deal my first month with the company!

You will need to get bids and crunch the actual final numbers needed to make it not just livable, but attractive to renters. 

When they finally got evicted, the resident allowed (used) the management company's staff to move their belongings to the parking lot where her and her friends then loaded them in the U-Haul.

Some DSCR lenders may allow a single pull or "Soft Pull" at initial application but in 99% of the time Banks and Lenders do a "Hard Pull" or have to pull all 3 bureaus to get into final approval/underwriting.You have to also have a 680+ or better in order to get 80% purchase and 75% LTV cash out refinance. 

It finally got approved, however reading over the loan documents, I found that I had to agree to have a minimum of 6 lease terms.