First deal with @Marsay (aka the Property Pastor)

[Greg Moran]

Investment Info:

Single-family residence private money loan investment in Newport News.

Cash invested: $75,000

Contributors:
Marsay Winder

UPDATE: (10/01/2021) Renovation complete and the market is so hot right now! Therefore the rehabber decided to list the property for sale, instead of refinancing the BRRRR. Not much change in the exterior (pics below), but the interior and backyard is completely updated! This one is priced for a quick sale, and we're looking to squeeze in one more deal before the end of the year. Link to the Listing on Zillow: 136 Poplar Ave in Newport News, VA

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

Private money lending is the most passive form of REI, where someone else does all the labor, and as the lender, you earn a safe ROI.

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

Marsay (aka the Property Pastor) has a pipeline of wholesalers and he scrutinizes each deal to meet our joint criteria.

How did you finance this deal?

100% private money, cash purchase

How did you add value to the deal?

Deal analysis and brought the funding.

What was the outcome?

House is listed for sale after just completing the renovation

Lessons learned? Challenges?

Overall a very smooth flip

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

Big high-five to @Marsay Winder (aka the Property Pastor) for being the boots on the ground. Glad we finally got to meet in person after a year+ of virtual-only correspondence.