Topeka, KS Investor/Realtor

[Quillan Houser]

Hey everyone! My name is Quillan Houser and I'm a Realtor and real estate investor in Topeka. For the last seven years I was in law enforcement, starting as a patrol officer and eventually becoming a fire investigator for the State Fire Marshal's office. I was a part-time Realtor for the last two years and got to a point where I was tired of being called away from my family to conduct investigations. I decided to leave law enforcement and jumped into full time real estate investing and sales. Over the six months or so I spent quiet a lot of time reading several REI books, including all of the BP ones, and started a business with a good friend of mine a few months ago. Our goal is to do as many BRRRR investments that we can. I keep up to date on the BP real estate podcast but I started from #1 and am currently trying to get through the rest of them.

When we started searching for homes, I immediately located a house on the MLS that we purchased from a wholesaler and flipped it within one month to one of my buyers that were looking for a remodeled house below $100k. We didn't make a huge profit but it was a great learning experience and we were able to sort out all of our contractors and products we're going to continue using. We purchased our second house from a wholesaler at the beginning of April. This house is nearly completed with renovations and already have a qualified tenant moving in this Friday.

One of my favorite BP books, "The Book on Investing in Real Estate with No (And Low) Money Down", has helped me make a couple more deals outside of this business. My mother was going to list her Lawrence townhouse with me and instead, she agreed to do a lease with option to purchase and the purchase price would be the current loan amount at the end of the lease. I'm currently searching for a tenant for that property but even after HOA dues, it'll be a good cash flowing property.

I recently was able to purchase a condo with hardly any money out of pocket but I still put 20% down. The condo was put on the market 20 minutes before I saw it on the MLS and I believed it was priced quiet a bit lower than what I thought it would appraise for. It was listed for $29,950 and I immediately offered $37,000, sight unseen, but requested the seller pay 20% commission. (I checked to ensure this was legal and the real estate commission and my lender both agreed it was legal.) The tenant was paying $550 a month and was supposed to be renting until August 2020. The seller immediately agreed to the offer and we closed 30 days later. A couple days prior to closing the other agent contacted me and said the tenant had moved out and the seller's property management company was searching for a new tenant for $550 a month. I told them to not worry about it and I was able to find a tenant that will be paying $675 a month. All I have into this property is the closing costs, part of the commission I split to my broker, carpet cleaning ($120), and a couple small updates/repairs. The mortgage is $260 which is principal, interest, and taxes and the HOA dues are $177 which includes all insurance coverage.

I am here to network and to always be learning something! I've been trying to drive for dollars with Deal Machine so we'll see if I get anything out of the post cards I sent out. Has anyone has success with it at all?