All Forum Posts by: Alison Decastro

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $140,000
Cash invested: $5,000
Sale price: $280,000

Will probably sell to buy-n-hold investor. Needing to raise some capital at the moment.

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

I was offered the property by a hard money lender who took it back from previous buyer

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

See above

How did you finance this deal?

Residential Capital (HML) lent us the money to buy and the rehab $

How did you add value to the deal?

new kitchens, bathrooms fix garage, put tenants in

What was the outcome?

I will let you know in 2 months

Lessons learned? Challenges?

I need to be careful that my partner is in as big of a hurry as I am!

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

So far Rescap has been very helpful to us. I also have a great agent who will help us sell when completed.

David, this is great, how can I view online?

Thank you so much @Patti Robertson, @Andrew Ashby.  I will start with the HA.  Thanks so much you guys for taking the time to try to help.  I will let you guys know how it goes-the current leases extend to Nov 2017-so I have time to get this in place.

Hi Guys,

We have a 5-family property that has 2 section 8 tenants (inherited but good people).  Rents have stayed the same for 3+ years.  How can I raise the rents?  By that I mean-how do I get section 8 to pay more?  Rents in the area have been trending up.

Congrats!...

@Tom Ott-thanks for your response.  I know the value, I want to sell it for close to that.

@Alex J.-I am thinking of selling mine, not to buy another thanks for asking.

@Elizabeth Wilson-I kinda thought it would be worth more as a rental-but who knows good idea-         thanks.

@James Wachob-Who did you use to sell yours?  I think I will first reach out to the company that sold to me.

Thanks all you guys for taking the time to try to help.  Much appreciated.

Hi,

Do you guys have any advice for me.  I am thinking of selling my turnkey properties in Memphis and Houston.  What do you guys think is the best approach to get a "fair" price.

do you have interest in buying a rehabbed house?

Thanks @Charlie Fitzgerald, thanks @Account Closed.  I will just call an agent I know, I just thought there was an easy way to get the ballpark, given the rents.  Thanks.

@Account Closed.  So, how would you come up with a ballpark?  Thanks  @Cesar Torres.