All Forum Posts by: Alan Hon

Thanks for commenting on my post. I had the pleasure of working at Orton Homes in Clive Iowa for some time. The owner Rob build and sold more than 100 homes per year but also had at least a dozen that he held which encouraged me that using the BRRRR strategy may be beneficial as he then would get the benefits of depreciation to help offset the profits he was making selling off the others. What am I missing?

After more than 18 years Buying, Rehabbing and selling (flipping) or Refinancing and Renting, I spent a year working with a builder who built and sold or held more than 100 homes a year.

While I knew he had a 14,000 square foot home and was clearly doing well, I had no idea that he averaged $100k per home.  I'm not a math major but WOW. 100 houses per year at 100k profit per home.  

Learning that really opened my eyes to the possibilities that exist in building new homes vs flipping them.  I thought my average profit of 30k per house was good but when you consider that lending favor building over flipping and how easy the money is to get to build vs flip the logic is undeniable.

I've now spent the last year and a half selecting the designs, building relationships with the right GC, lenders and suppliers and am ready to start building some houses.

Who's in?

 

We locked down another flip but don't close until March 1.  I'm looking to stay busy.  Is anyone looking for good help?  Project Management?  I've got the skills, the guys and the availability to help. 

Yes.  We thought that wall could use a cool feature.

I get it....family is in town.....no-one wants to start a new project at the end of a year.  Well that's all behind us now. Let me take a couple of other pain points off the table.   CAN"T FIND GOOD HELP????   I've been re-designing and rebuilding distressed properties for almost 18 years.  FINDING A GOOD PROJECT IS LIKE FINDING A NEEDLE IN A HAYSTACK!!!   I've had to pass on a couple of GREAT deals in the last couple of months.  I can find us one TOMORROW.  No more excuses.  You want to do this??   LET'S DO THIS

Having been an Investor for nearly 18 years.  Over those years, I've heard COUNTLESS times how hard it is to find great deals and good help.  Well that time has passed.  Not only have I been redesigning and rebuilding distressed properties for more than 17 years, I've got a deal in my cross hairs, hard money secured and only need someone to pitch in some private money to make it happen.

WHAT IF....I could GUARANTEE you a SOLID ROI in a project that should only take me 90 days to complete?

THIS IS A GIFT that could hopefully create a partnership that creates multiple WIN-WIN opportunities as together we can achieve more.

My Facebook page is @4AdventHomes, where you can see a couple dozen of my most recent projects so you know who you are partnering with.  

The time to act is NOW.  What better way to start the new year than in a successful flip??

Thank you for sharing that story.  

One thing you might consider is looking into either distressed properties or working with a builder to build new ones.

If you buy distressed homes you could use the BRRRR strategy to not only fund the acquisition and renovation expenses but also create working capital with each one you do.

Consider this. Acquisition Cost $150,000 + $50,000 rehab = $200,000 invested. ARV = $275,000

Refinance the property @ 80% ARV = $220,000 = $20,000 net (minus fees of course)

You have now purchased the property, paid yourself back the renovation expenses, put $20,000 ish in the bank and provided your Son with a space he can then cash flow.

The same would apply if you found a builder, or modular home, purchase a lot in a desirable neighborhood where the ARV would suggest you could profit from building a new home there. Then you do the same thing. You acquire the land, place a home on it that fits the needs you have, finance it, pay yourselves back and repeat.

Trust me I've been there.  After getting my first property under contract in 2006 I started looking for help.  While I had an eye for design, I didn't know the first thing about fixing up a house.  This guy wants too much, the other one never showed up, most of them didn't even return my calls. Then finally it happened, I met guy who could DO IT ALL (they all say that don't they).  Trying him out on a couple of small projects we entrusted him with a large downpayment and went off on vacation.  Sadly most of you know how the rest of this story goes.  That lesson taught me the importance of rolling up my sleeves and doing whatever it takes to get the job done.  At my peak I I was managing a portfolio of millions in multi-unit residential buildings and have had two crews working full time on flips.  Are you in need of some good help?  Do you want to scale your business and make 2025 a year to remember (in a good way)?  You no longer have the excuse that you'd be bigger if only you could find good help.  I'm right here.  Let's do this 

Haha.  Ya great people start with great names.  Yes, I've been doing this a LONG time.  I will often times use photos of my work as pictures are worth 1000 words.  

syn·er·gy/ˈsinərjē/

the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

More for than 17 years now I've been a bit of a Lone Wolf.

Investor - Designer - Contractor - Project Manager - Wholesaler - Property Manager..........You name it, I've no doubt done it.

Sadly while all of that has kept me busy, I've never taken the time to surround myself with people that are doing it bigger than I have.  

While talking about investing with would be investors is nice I'm tired of playing small.  I'm looking for DOER's.  People who want to take action, combine forces and make something happen together.  Masterminds who are tired of listening to Podcasts or purchasing courses they never use.

There's nothing I can't do with a distressed house.  I know how to build teams and am also capable of rolling up my sleeves to do the work required to find them, flip them, hold them or whatever we decide we need to do to maximize the return on the investment.

Together Everyone Achieves More.  Let's do this