Investor Partner on S 11th ST

[Richard Davis III]

Investment Info:

Single-family residence fix & flip investment in Milwaukee.

Purchase price: $49,000
Cash invested: $29,000
Sale price: $108,000

Managed by an LLC I work with. I was the principle cash investor and worked in the property hourly as needed.

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

The numbers were good. I trust the project manager.

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

The project manager took care of that aspect.

How did you finance this deal?

Using my IRA LLC.

How did you add value to the deal?

I was a cash investor, and also helped with a significant amount of the work in the property.

Lessons learned? Challenges?

For some reason we had FOUR accepted offers fall through on the disposition side of things. This was a major challenge and we learned a lot about how to talk to and challenge traditional bank lenders about their pre-approval process and what questions to ask to help weed out toilet paper pre-approval letters.