All Forum Posts by: Aaron Bihl

Investment Info:

Mobile home fix & flip investment.

Purchase price: $81,500
Cash invested: $45,000
Sale price: $255,000

https://www.compass.com/listing/615-county-road-3820-san-antonio-tx-78253/1029839869170061481/

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

It came to us through our marketing, I really enjoy flipping mobile homes and have bought probably 20-30 over the last few years.

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

It came from a TV ad

How did you finance this deal?

We used a private lender

How did you add value to the deal?

We completely remodeled the house.

What was the outcome?

We ended up netting around 110k on it

Lessons learned? Challenges?

This was one of the more challenging projects we've had, mainly due to the neighbor across the street doing anything in her power to keep us from selling it. We were about to file a law suit and get a restraining order but the house we under contract so we just managed the situation and made sure she didn't talk to anyone.

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

Tanya Lechner lists most of our projects and she's a rockstar.

You could look them up in the court records or you could get them from a data provider like list source, propstream, batch, etc

Investment Info:

Single-family residence wholesale investment.

Purchase price: $62,000
Cash invested: $250
Sale price: $115,000

This was a little wholetale deal we did in a tertiary market.

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

I wasn't but through our marketing it came to us. This deal came from our TV ads.

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

It came from a TV ad, anytime we are looking at something outside of our immediate market we are super conservative with it. It was directly with the seller and they had tried to sell it before but the sellers brother who was also an heir made things difficult so they pulled it off the market.

How did you finance this deal?

We used a private lender that we paid 10% and 1 point interest only.

How did you add value to the deal?

We cleaned it out and hired an agent who was local to the market to list and get it sold for us.

What was the outcome?

We sold over asking price and owned it a little over 2 months. I believe after paying commissions, paying off our lender and everything we netted 40k+. I would have to go back and look at our numbers for the exact amount.

Lessons learned? Challenges?

If you have a good agent trust them. I was frustrated the house wasn't selling and called and asked her what was up and I suggested we price drop it and move it. She pretty much told me to calm down and trust her and the next day we signed an offer 5k over ask.

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

We worked with Rebekah Morgan who is based out of Gonzales I believe and she is great.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $30,000
Sale price: $57,000

This was a house that we bought as a referral from a previous seller. It was a little tricky because we bought it sight unseen and it had long term renters who were way under market/not paying at all.

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

It's just what we do, haha. I honestly try to stay away from the westside but a deal is a deal.

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

It came from a seller who had sold to us before, honestly there wasn't much negotiation. She knows us and trusts us and wanted us to get it off their hands.

How did you finance this deal?

We used a private lender.

How did you add value to the deal?

We didn't other than getting the tenants out. We didn't even clean it out. And unfortunately there was a lot of dealing with really bad tenants who didn't want to pay or leave. And then when they left they decided to leave 4 dogs and 4 chickens at the house as well.

What was the outcome?

After paying off our private lender we made around 22k on this deal.

Lessons learned? Challenges?

We bought it sight unseen which i'm fairly comfortable with these days but buying really cheap houses in neighborhoods like this is always a pain. We dealt with getting the tenants out, finding homes for the animals they left behind, squatters once the house was vacant. It's just a lot of work for this little house.

We recently purchased a container home that is currently rented but will soon be an airbnb. The home was previously bought with an FHA loan so I would think it would be financeable but trying to see if their are DSCR lenders who work with these houses before we start hitting up everyone and going down that rabbit hole.

Katrina white with allegiance title is the best around  

That’s like saying if paid 50 cents for a dollar bill it would then be worth 50 cents.  

The price I pay for something doesn’t determine the value.

 lol this is the perfect example of why I think lenders just don't understand.

I own a company that buys off market properties, literally everything we buy is discounted and often they are nice houses not just distressed ones.  

The price I'm buying at doesn't make it market value, and I'm in a non-disclosure state so it's not super easy to find out how much I purchased a property for.  And if it was market value I wouldn't be buying it.