All Forum Posts by: Anastasia Gamino

@Kerry Baird if we would have over renovated the house by adding granit or quartz for example, we would have gone over budget! You have to know your level of finishes for the ARV for your neighborhood!

@Tyler Lingle good question! I usually have one unit functioning as a short term and the other mid term. I have had travel nurses because it being right on 465, a lot people im town working, visiting families, hospital visitors, and summer events such as races, sports tournaments, and conferences.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $290,000
Cash invested: $145,000

35k renovations
20k furniture
25% downpayment- DSCR Loan

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

We loved the location and knew if we could add some charm that this would be a very successful Airbnb.

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

We randomly went to an Open House and didn't have a pre-approval letter yet!

How did you finance this deal?

DSCR loan- this loan uses the income of your property and not your debt to income ratio!

How did you add value to the deal?

We tore down a small wall in the kitchen, added granite, and a backsplash. We made the kitchen more open and a focal point for the home! We painted the brick fireplace black and this made the living room pop!

What was the outcome?

We gross 5-6k a month and net 2,000-2,500 a month

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $230,000
Cash invested: $260,000
Sale price: $300,000

Western Suburb of Indianapolis!

We managed this renovation from Europe!
The was an aesthetic flip that just needed paint, carpet, and some love to the bathroom and kitchens!

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

Only needed aesthetic updates!

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

Wholesaler

How did you finance this deal?

HELOC and Cash

How did you add value to the deal?

Added love to the bathrooms and kitchens

What was the outcome?

We made a quick 30k and went under contract in a couple of days!

Lessons learned? Challenges?

Know your numbers and keep your renovation budget on point. We could have easily loss money if we wouldn't have been so tight with our renovation budget.

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

Realtor Chris Meulbroek

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $98,000
Cash invested: $103,000
Sale price: $233,000

We had a partner on this one. We had 70% equity and they had 30% equity based on the amount of capital put in the deal.
Purchase Price: 98,000
Renovations: 52,000
We made 50,800 and they made 21,000.
Renovation Time: 45 days
Under Contract: 24 hours

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

Loved the location and Building relationships with a partner.

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

Our partner brought the deal to us because he needed capital. I put some past flips on my Facebook page, and he reached out to us!

How did you finance this deal?

HELOC, credit cards, cash

How did you add value to the deal?

We added a privacy fence, made it an open concept, and made the property pop with a wooden beam and open shelves.

What was the outcome?

Sold the house for more than the original ARV of 220,000. We stayed within our renovation budget!.

Lessons learned? Challenges?

Partnerships can be valuable when they bring you deals! Post on social media what you are doing!

Investment Info:

Single-family residence fix & flip investment in Indianapolis.

Purchase price: $87,500
Cash invested: $162,673
Sale price: $210,000

Buy: Purchase Price 87,500

Rehab: Renovation Budget 74000

Profit: 47327

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

We saw the ability to finish the basement and increase the ARV.

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

Wholesaler

How did you finance this deal?

Cash

How did you add value to the deal?

We finished the basement and was able to raise the ARV and increase profit.

What was the outcome?

This took us 5 months to go under contract. This property is located between Christian Park and Beech Grove. We probably will not flip in the Near Eastside again. Our flips in the townships and suburbs sell a lot quicker!

Lessons learned? Challenges?

Never flip a house without a garage! This was a deal breaker for a lot of people.

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

Nuparadox

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Indianapolis.

Purchase price: $146,000
Cash invested: $44,000

Our latest Duplex!
Paid cash to beat out the competition , but will be using delayed financing.

This property is a short term/mid term rental.

Grosses around 4500 to 5000.
Nets/cash flows around 2500

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

We decided to try short term rentals for this property after it was a long term rental. It was close to 465(our major highway)and not too far from Speedway.

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

MLS- we got it in 2021!

How did you finance this deal?

We paid cash to beat out the competition in 2021 and did delay financing.

How did you add value to the deal?

We renovated kitchens and bathrooms. Put 12k in furniture on each side. One unit is a short term rental and other functions as a mid term rental.

What was the outcome?

I want more! Cash flows 2500 a month

Lessons learned? Challenges?

We decided to manage it ourself....we hired a PM and it did not go well! Don't be scared to cut ties when someone is loosing your money

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

Diego Hernandez-agent
Jared Shore- lender

Hello everyone,

  I see this is an old post, but I would also love recommendations for GC contractors for multifamily properties in Kansas City.

Thanks,

Anastasia Gamino

Our team is looking for a boots on the ground in Kansas City. 

You must be a Kansas City resident for more than 2 years .

You must now the north side, south side, and surrounding suburbs of the Missouri and Kansas side on a block to block basis like you know the back of your hand. 

Your role will include, but not limited to meeting brokers, reach out to owners, attend property tours , and more. 

We will provide you with all the procedures, procedures, and contacts you need to be successful. In return you will get part of the GP equity share. Interviews start this week.

If you are interested, send me or Jason Malabute a DM!

Thanks Wale. Yes, we have done all the things that you have named in the last 3 years of investing!  I think every deal still has it's challenges and there is always going to be new learning happening especially as this market shifts!