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Updated over 4 years ago on . Most recent reply

User Stats

51
Posts
24
Votes
Zachary Smith
  • Real Estate Agent
  • Johnson City, NY
24
Votes |
51
Posts

First Time Auction Bid Winner

Zachary Smith
  • Real Estate Agent
  • Johnson City, NY
Posted

I am not new to REI but this is the first time I've got into a deal (jumped out of a plane) and had to figure out how to fly on my way down.

The house is a SF fixer upper in Upstate NY. It's in a very desireable location, one of the best school districts in our area (if there is school) and has a lot to room to work with.

I just won the auction at 58K and am now in fundraising mode. I've had plenty of surface level conversations with potential investors but none have committed to investing to a deal when one presents itself. Now I'm in the process of calling them all, to get the purchase and Reno done. 

I will do most of the work myself, and plan to BRRR with a cash out refi or out right sell if the market stays hot.

Acqusition - 58K, Reno 30K, ARV 160K

Looking for advice through the process 

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