All Forum Posts by: Alex Kenneth Swindell

Right now were sourcing off-market opportunities and running numbers. I've acquired a partner to bring the funding and we're splitting the profits. We're likely going to take a month or two to find properties because my partner is new to real estate and wants to gain a thorough understanding of what he's getting into. We're breaking down the financials together so I can ensure he is confident in moving forward and understands the risks involved and how we will mitigate the risks along the way. 

What I know so far as far as number go. We'll be looking for properties we can acquire for under $450k. We'll put 10% down and finance 100% of the rehab costs by utilizing a hard money loan at 9.8% over 24 months with a holding period of approximately 3 months but budgeting for 5. We're looking to make a total net profit of around $35k. I'm happy after we've acquired the property to update here and include a pro-forma and then update again as we have a final result. We'll be doing this anyways to perform a lessons learned analysis and see where we can improve. 
 

Hi everyone,

I’m Alex, a real estate agent and investment partner based in Northern California. I’m currently working on my first fix and flip with a partner, and I’m here to keep learning, growing, and building genuine connections in the investor community.

Over the past few years, I’ve put together a solid network of resources to support a wide range of investment strategies—off-market deal access, Property Management,  investor-friendly lenders (including hard money under 10% interest and 100% rehab financing), 1031 exchange support, and a contractor team ready to move fast. I also help clients analyze deals and make smart purchases and exits, and I’d love to be a resource for others doing the same.

Whether you're just starting out or scaling up, I’m here to share what I know and learn from those further along the path. If you’re investing in or around Sacramento—or just want to connect—feel free to reach out.

Looking forward to collaborating and contributing here.

— Alex Swindell

Hey Anthony. Text or call me and I'll get you over contact info for a local contractor who does fantastic work. I've also got a investment lender who works specifically with investors and has access to several different hard money lenders who have great terms. 9.7% interest, 100% rehab financed with good credit. Feel free to reach out 916-990-1633 [email protected]

Hello! 

My name is Alex Swindell. I am currently looking for a role in which I serve a team or investor and  can continue my real estate investing education by utilizing the skills and experience I currently have. 

My  Professional Background: 

     When I graduated form university, I landed a job as a Staffing/Sales Manager. After a short time, I knew that this role wasn't for me and started doing some internal investigation. I became passionate about real estate and over the course of the last five years, I have worked towards a career where I could learn the skills to be successful in real estate investing. I sought out a career in project management. However, I didn't have the qualifications to get in the door and at the time, finding a job wasn't easy. I got similar feedback from a few different interviews -  'you don't have the relevant experience'. To break my way into a role where I could become a Project Manager, I took a job as an electrical trainee. I did that for a few months until I was laid off due to COVID. I began to interview again and found a position with the company which I currently work for as a Field Coordinator for a utility scale solar manufacturer. I told the interviewer the first time we spoke on the phone that what I wanted was to be a Project Manager. He assured me that this could lead to that role within the company. I took the job and six months later was promoted to an Assistant Project Manager. That is my current role and I have been doing it for the last two years. I have ran a project as a project manager, managed budgets, instructed incoming Assistant Project Managers and trained them for their role, managed subcontractors, tracked project deliverables from start to finish, and worked on contract revisions. I have been on teams which aimed to role out new software which would be the new standard for streamlined communication internally. I have learned a lot about company internal organization, stakeholder management both internal and external, change orders, file structures, contract negotiations, record keeping, risk mitigation, and more. 

Whilst in my role as an APM, I have also started other work with a partner and close friend of mine of the last 20 years. We have the same objective: an early retirement via real estate. We have done research and performed property analysis on single and multi family properties across the United States, market analysis,  identified and started to work towards a creative investment opportunity with a vacant lot in the Sacramento, CA area in which we intended to place a tiny house. I've learned about building up a team, sourcing deals, rehabbing property, creative financing, and more. 

I want to continue my education in real estate in pursuit of my highest goals.  If you have any suggestions as to roles that may be a good fit given the above information, I would greatly appreciate hearing about it. 

Thanks and Regards,

Alex Swindell

Heads up, I'm not an experienced investor... yet. However, I'd like to vocalize my opinion on here and it can just be taken with a grain of salt:

My intention here is not to guide you to any decision but to suggest considering if you can achieve your goals via other methods and consider the opportunity cost of both doing and not doing something. Then consider based on your goals, if you can get things still to work out favorably in a way that still solves the issues that you're presented if going one direction or another.

@Scott Mac mentioned the opportunity cost of not going to the property to meet with your contractor. In that instance your opportunity cost is missed free education and possible missed relationship development with your contractor. Makes a lot of sense and I can't really poke any holes in that because there is potential truth there. 

However...

There is opportunity cost to going and meeting them in person as well. You don't get your time back, and you aren't necessarily looking for how you could get the equivalent education and relationship development from home. (if you want to be operating remotely, it might be beneficial to learn how to operate this way) You probably could, but it will take more creativity. 

ex. Your contractor could video chat with you while you take the call from home and explain the materials and installation method. If you have a list of materials that are being used, you can google them and do the research yourself. You can send thank you cards and tip during the holidays to demonstrate that you value the relationship, etc. 

It depends on your goals and priorities, your time availability, etc. 

Food for thought... 

Hey Nicholas, 

I was in a similar situation to you not too long ago and with a similar goal. I had no established credit, and wanted to attain a high credit score. I now hover right around an 800 credit score. Here is how I made that happen: 

I got a credit card and I now pay for everything on that. I never let the balance on my credit card get above about 7-10% of my credit limit. I just pay it off every couple of days. 

I also became an authorized user on my aunts credit card. She has a good credit score. I did not get access to her card for any sort of use, I just was benefiting from her score. 

I don't cancel cards, ever. I don't apply for new cards but when I do, I'll also be asking for a credit raise on the card that I already have, so that way I only get one ding on my credit report. 

You'll build things up pretty quickly if you follow all these steps. I hope this helps. Good luck on your credit journey. 

Thanks @Account Closed. That is definitely very good information to know. I appreciate your response. 

@Mike M. I sincerely appreciate your response! I'm going to look into how to accomplish those things. I've been looking primarily out of my area because I made the assumption that I wouldn't be able to get into anything in my area, due to initial investment, in Sacramento, CA. Now, I'm starting to do research on Sacramento submarkets and assembling a team here. I have a lot to learn. 

If you don't mind, how have you typically gotten in contact with the owner of the house in pre-foreclosure? 

Hello Everyone! 

So, I found a property that is a pre-forclosure and is listed for $400,000. I'd like to understand how, if one were to try and assume the mortgage, how that works, and what the options are as far as acquiring the house? Would it be possible to offer to cover the past due default fees, have that be the initial cost then rent it out? Any insight would be helpful. I'm really just trying to get an understanding for what the possibilities are for investors when looking at homes that are in this general situation. 

I hope it helped a bit! I'm just getting started and engulfing myself with as much knowledge as possible. I'd like to hear how things go for you! It sounds to me like your getting really close. Congrats on the progress you've made so far!