All Forum Posts by: Michael Thompson

Investment Info:

Small multi-family (2-4 units) buy & hold investment in N Myrtle Bch.

Purchase price: $410,000

This 2nd row 2 story duplex style home located just 100 steps from Beach and beautiful knotty pine walls, ceilings, and kitchen cabinets. Hardwood floors have been refinished and a new roof in 2017. It is situated on a large double lot where you can swing under gorgeous old live oak trees or just enjoy this bird watcher's paradise among many flowering trees and shrubs. Each level has 2 bedrooms and 1 bath with new Stainless appliances.

How did you add value to the deal?

Need to paint interior, new kitchen tile for floor and backsplash. Also will update the bathrooms and the entire property to a “beachy” theme to attract vacationers.

What was the outcome?

We will see!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in N Myrtle Bch.

Purchase price: $410,000

Go back in time when homes were built with quality. This 2nd row 2 story duplex style home located just 100 steps from family-oriented Crescent Beach, has beautiful knotty pine walls, ceilings, and kitchen cabinets. Hardwood floors have been refinished and a new roof was installed in 2017. Has Ring security system. Situated on a large double lot where you can swing under gorgeous old live oak trees or just enjoy this bird watcher's paradise among many flowering trees and shrubs. Each level has 2 bedrooms and 1 bath with new Stainless frig and gas stove down and new white frig and gas stove up. Each has an enclosed porch with rockers. In back of the home is a ground-level deck with an outside kitchen and ample built-in storage and parking for 6 or more. Don't miss this breathtaking double lot between Perrin and Holly.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in N Myrtle Bch.

Purchase price: $410,000

This 2nd row 2 story duplex is located just 100 steps from the beach and has beautiful knotty pine walls, ceilings, and kitchen cabinets. Hardwood floors have been refinished and a new roof was installed in 2017. Situated on a large double lot where you can swing under gorgeous old live oak trees or just enjoy this bird watcher's paradise among many flowering trees and shrubs. Each level has 2 bedrooms and 1 bath with new Stainless appliances.

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

I see the steady cash-flow from many of the vacation properties in that area. I must be crazy getting into quick turn rentals! We will see how it goes!

How did you add value to the deal?

The interior is completely covered in Knotty pine....not my favorite! So, painting the interior walls, replacing the old cafe green countertops with butcher block, and updating the kitchen floors and backslash, as well as the bathrooms with a "beachy" tile! Overall incorporating a beach theme to attract vacationers.

What was the outcome?

We will see!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in N Myrtle Bch.

Purchase price: $410,000

Go back in time when homes were built with quality. This 2nd row 2 story duplex style home located just 100 steps from family-oriented Crescent Beach, has beautiful knotty pine walls, ceilings, and kitchen cabinets. Hardwood floors have been refinished and a new roof was installed in 2017. Has Ring security system. Situated on a large double lot where you can swing under gorgeous old live oak trees or just enjoy this bird watcher's paradise among many flowering trees and shrubs. Each level has 2 bedrooms and 1 bath with new Stainless frig and gas stove down and new white frig and gas stove up. Each has an enclosed porch with rockers. In back of the home is a ground-level deck with an outside kitchen and ample built-in storage and parking for 6 or more. Don't miss this breathtaking double lot between Perrin and Holly.

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

I see the steady cash-flow from many of the vacation properties in that area. I must be crazy getting into quick turn rentals! We will see how it goes!

How did you add value to the deal?

The interior is completely covered in Knotty pine....not my favorite! So, painting the interior walls, replacing the old cafe green countertops with butcher block, and updating the kitchen floors and backslash, as well as the bathrooms with a "beachy" tile! Overall incorporating a beach theme to attract vacationers.

What was the outcome?

We will see!

Joe,

Much appreciated!  I reached out to Andrew.  All the Way!!

I have a home that has been my primary residence for several years, I rented it out earlier this year and now wish to refi to utilize the equity (+75K). The home affords a positive cash flow of $800/mo. It is currently a VA backed loan w/ Sun West. With the current climate, a conventional loan has much higher interest rates. Any suggestions?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $225,000

Purchased new home in 2013, deployed in 2017 and rented it out for a year and a half. I moved back in July 2018 and currently performing a PCS move to Fort Benning, Georgia. The house is now a rental ($2000/mo) with an option to purchase in the near future.

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

Bought this long before learning the huge benefits of RE. Wish I knew then what I know now, I would own many more, lol.

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

I found an agent and went to work.

How did you finance this deal?

I utilized my military benefits (VA Loan)

How did you add value to the deal?

Time! Currently over $85K equity built up. and growing at roughly 3.8% yearly.

Amazing job, can you provide a breakdown by the numbers? I am in Fayetteville and interested in buy and hold multi family and possibly flipping SFRs. [Solicitation Removed by Moderator]