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All Forum Posts by: Amanda Sutherlin

Amanda Sutherlin has started 20 posts and replied 222 times.

Post: a deal to consider ?

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132

have you found the owners? I'd also look it up in public records to see if it's a sink hole home. You'll actually get more than $1000 in rent..

I'm in the area, let me know if you need any help.

Post: Anyone in the Spring Hill, FL area?

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132

hi, I live and invest in Spring hill. I don't know of any REIAs in the area unfortunately.

Post: Would love to be an apprentice?

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132

I live and invest in spring hill, fl. Let's connect,  I'm always looking for deals. 

Post: Busy Mom- Closed Rental #3!!! Pictures

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Mushfiq S.:

How did you manage to put only $5k down? Was it a conventional bank loan or some other method? Apologize if this is a dumb question.

 No dumb questions around here! :) I asked....I presented an offer with 5k down and they accepted. It's an owner finance deal 

Post: Busy Mom- Closed Rental #3!!! Pictures

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Dmitriy Fomichenko:

@Amanda Sutherlin

Congratulations! With these numbers, your ROI is pretty awesome. Are there any additional maintenance costs? Good luck for #4

 Hi, I did have to replace the electric panel and a faucet for $1200 and $30. That was all :)

Post: Busy Mom- Closed Rental #3!!! Pictures

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Scott Harper:

Great job with the cash flow.

Thank you, I'm happy with it :)

Post: Busy Mom- Closed Rental #3!!! Pictures

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Scott Harper:

Was the 68 k market price or below? What were comps? Just curious about complete numbers. Was there any rehab costs? Congrats. You did a great job.

HI Scott, I bought it below market...not by a whole lot. Comps were at $78. As for rehab, I had replace the electric panel ($1200) and replace the faucet in the kitchen ($30).

Post: Busy Mom- Closed Rental #3!!! Pictures

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132

I closed on rental #3 a few weeks ago and I have rental #4 under contract!! Exciting stuff :) I had a little help in structuring the deal: Find the link here Thank you @Mark Holencik for all your help. Pictures and #'s below:

Purchase Price: $68,000

Down: $5,000

Owner Finance: $63,000 @6 % for 20 years

PITI: $593.16

Rented: $950

Rental house #4 under is under contract and I'm 1031 exchanging rental house #2 into a better deal :) Read about rental #2 here. I have about a $40K mortgage and selling for $80K :)

Post: No Job, busy Mom bought 2nd Rental!

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Kevin Greene:

Amanda Young

Let me know if I'm understanding the process. You get a list of people in charge of estates in probate (executors, right?) and you direct mail them about buying the property? It's awesome that you won the list! I doubt I would be so lucky, so I assume these probate lists can be purchased? Thanks for sharing the knowledge!

Hi Kevin. The list sometimes has the executors, sometimes not. You will get the address of the home and sometimes a 2nd address. I send to both. I send a (very) short letter...and find I have a great response. I can get you the lady I use for the list as I believe she can send you a probate list for any location. It's a bit pricey, but worth it. This deal I've had less than a year and the current renter wants to buy it for 80K, I will do a 1031 exchange with the money. I'm VERY excited about that!!!

Post: No Job, busy Mom bought 2nd Rental!

Amanda SutherlinPosted
  • Flipper/Rehabber
  • Spring Hill, FL
  • Posts 234
  • Votes 132
Originally posted by @Dmitriy Fomichenko:

@Amanda Sutherlin

That's an excellent strategy, and putting it in a land trust was smart. I liked that you maintain individual emergency funds for the properties. Good luck for the #3 one!

Thank you so much :) I am closing deal #3 at the end of the month!!