My First Deal as an LLC

[Greg Appelt]

Investment Info:

Condo fix & flip investment.

Purchase price: $137,700
Cash invested: $32,000
Sale price: $186,000

55+ community. One of the few 2br/2bath units available. Great amenities. I'm doing a full bathroom remodel, new flooring and paint, kitchen update, and general refreshing.

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

TBREIA + NetWorth Realty helped me take the first step as a real estate investor. I'm ready for step 2!

How did you find this deal and how did you negotiate it?

NetWorth Realty sends out daily emails with wholesale deals. This one fit my budget.

How did you finance this deal?

$10k personal, $40k self-directed IRA, and the remainder via HML from Complete Lending.

How did you add value to the deal?

Light-medium rehab

What was the outcome?

Pending sale

Lessons learned? Challenges?

Using a self-directed IRA is a great way to not only grow your retirement but can be a very liquid way to have access to 0% capital.

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

Capital Lending quickly resolved a sticky closing issue caused by 212 Lending's gap in understanding.