All Forum Posts by: John D.

Hi Simmy,

I would like to know more about this. My email is [email protected]. 

Thanks,

John

Congrats! The units look good. All green lights the rest of the way!! 

Nice indeed! Looks like it all fell into place for you. Congrats!

Hey BP investors,

Don't miss out on this 4 sided brick, 3/2 in the heart of the West End/Cascade Atlanta neighborhood (Beecher Street).

Asking: 55K

Rehab: 51K

ARV: 150K

This location is ideal for both buy and hold investors, and those who like to fix and flip. Please send me a message with your contact info or email me for address and photos.

Thanks, 

John

Awesome rehab and good numbers. Congrats on rental #1!

Hey BP,

I've got a buyer ready to go on fix and flip properties meeting these specifications:

At least 3 bed/2 bath

Asking: 25K-60K

Rehab: 20K-40K

ARV: 100K-150K

Area of interest: Stone Mountain,  Lithonia,  and Gwinnett. 

If you have any deals fitting these specs let me know. Great opportunity to JV on your wholesale deals!

Thanks.

John

Congrats! Your enthusiasm is contagious. 

Thanks Kyle J., and Wayne Brooks.

@Kyle J. From what I can tell the seller bought the home 7 yrs ago for 140k. My guess is the seller owes 90-110k. According to the seller the bank wants 30k minimum. I wasn't going to update the interior immediately as the current tenant seems to be good with the current situation.  I was thinking about the positive cash flow as a win. But you make a great point for future plans. It would be a dud deal if we invested more money for renovations. The neighborhood is stable as far as finding renters is concern. I appreciate your advice as I learn.

John

Good morning all,

Here's the deal in a nutshell. All advice is welcomed:

A "motivated" seller calls me based on an Internet ad. The seller has a rental property that is currently occupied and brings in $350 positive cash flow monthly. For personal reasons the seller must sell the property. The seller is asking 48k. Seller listed the property however due to the need to sell contacted me personally. A modest estimate of ARV is 52k

I met with the seller to take a look at the property and although the interior is dated the seller agreed to include all appliances in the deal. The roof is in need of repair and seller stated that they had a volunteer service who would replace the roof for the cost of material.

Now the seller knows that the bank will take no less than 30k and then there is 5k in back taxes. Outside of the 2k+ in agent fee's the seller is still looking to walk away with cash although the property is so upside down. I was looking to wholesale the property but may buy and hold myself. Though I understand the sellers intent, I plan on offering less then the asking price and go from there.  By the way the house has been on the market for almost a year and before the seller re-signed the agent agreement the house was listed for 40k. Any thoughts on this deal?

Thanks

Good day all,

I'm John and I just wanted to introduce myself to the community at large. I am fairly new to the real estate investment world but I do have experience as an outsider looking in so to speak. Way back in the late 90's I had the Carlton Sheet's program. I absorbed everything in it but I just wasn't ready to take action. In 2002-2004, I helped a friend who started investing but had little time to check with contractors and others involved in his rehabbing efforts. So I was able to learn some of the in and outs of the fix and flip. 

Now that I am ready I am focused on buying and holding rental properties as well as wholesaling.

I can not express how much I appreciate this site and it's members for the wealth of information available and shared.

Thanks again,

John