Danielle Hammond

HI! In 2016 I joined Bigger Pockets, started listening to podcasts on my commutes, bought a few books, and read a lot of blogs. (Yes, I read Rich Dad Poor Dad first!) At this time I was bartending/waitressing full time, studying entrepreneurship full time, and raising a 1 year old. My goal was to purchase a home that needed work, fix it up while living in it for 2 years, and sell for a profit so I could get ahead. After reading "The book on Investing in Real Estate with No money down" ;) - I decided to try an FHA 203K loan. Problem was that no one in my area knew what this was, and every LOCAL bank told me it didn't exist anymore. I was so frustrated that no one knew what I wanted to do that I decided I needed to study more- so over Christmas break from school I began taking classes to earn my Real Estate License, by February I was licensed and working under a broker. I found a lender out of Florida (mistake) to do the FHA 203K loan for me - bought a foreclosure for my family with very little money out of pocket and extremely small monthly payments, in move-in condition. (There were a LOT of bumps along the way with the lender... but made it through!) We have raised the value of our home by about $30,000.00+ (purchase price of $45,000 + $10,000 in renovations - current market value of about $85,000+) as long as the market stays hot when we can sell. So not a bad deal - so far. Haven't decided exactly how to make a move on this yet. Updated Profile!: (2019) In 2017 I left waitressing and moved my licence to Re/Max 1st Realty, I have earned 2 designations; Resort & Second Home Specialist and Accredited Buyer's Agent. I represented a buyer in the purchase of a Resort and really enjoyed the commercial side of things, and the creativity used to pull it together. While I love selling real estate, I am still very interested in the investor side of things. I have learned my market area well, working as an agent full-time now. I have met contractors, I know the right lenders & best title companies, I know what buyers are looking for in a home, and I understand what loans buyers are using in my area, and what a house will require for those loans. This year I was able to purchase another investment property. I found a vacant home that had sat for about 5 years, in an area with a shortage of listings. I got the house for a low price, and the seller got what he needed. (I paid him fair value and worked out a good deal for both of us). I renovated the house, and it is scheduled to close with a $13,000 profit (after all fees). ***I spent under $1,000 out of pocket- and hired out the work, I could have made more. I am hoping to get the ball rolling and purchase some apartments, but enjoy renovations as well Also, if any of you are from Upper Michigan, let's chat!! :)