All Forum Posts by: Molly Arnott

Investment Info:

Single-family residence fix & flip investment in Sebastopol.

Purchase price: $900,000
Cash invested: $85,000
Sale price: $1,100,000

We bought ourselves ANOTHER fixer, seems like a trend here. This was a single family home in beautiful Sebastopol on a little over an acre. We converted the detached garage into a 2 bedroom rental to "house-hack" and minimize our living expenses in this expensive part of the Bay Area. Then we decided to relocate to Idaho and sold the property for a profit.

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

Bought of market through networking with other agents about upcoming listings.

How did you finance this deal?

jumbo loan

How did you add value to the deal?

Converting a detached second garage.

What was the outcome?

Profit :)

Join us at a networking AND content filled evening with new and seasoned investors alike! We'll mingle, have a brief market update to discuss recent data and projections, then break out into smaller topic groups including short term rentals, out of state investing, and hard money lending. We look forward to connecting with you there!

@Jennifer Pauyo hey girl! Agent and currently flipping too in northern California 🙌

Hi there! I have done 3 live-in flips in my local market but am currently on the hunt to do my first "professional" flip. I'm wondering if anyone can advise me the benefits of using a hard money lender versus conventional financing to fund the purchase & rehab. I believe we have the funds to cover the down payment and the rehab although I'd love to leverage financing as much as possible because it'll be cutting it tight with the funds I have available. Thanks for your help!

I'd love to hear an update on everyone's goals for 2019! I just purchased the intention journal and am setting 90 day goals to work on the goals I had set that aren't being met this far!

@Brian Pawl Thanks for this discussion, I'm happy to get my goals out there!! Can't wait to hear of your progress and success! -To aquire 10+ properties using the BRRRR method investing out of state. -Have first property in contract by end of Jan -Do 1 flip locally -Make 100k+ in my business as an agent -Sell personal home and purchase something more investor savvy -Attend all local REI meetings and connect with as many brilliant investors as I can!

I found this interview with tom ferry and steve harney super helpful and reassuring!

https://youtu.be/ihM5mf71UYk?list=PLlnz4BpiHqRHNdT5-tdqK5MWOu4nTeq9w

We're open to many markets, been mostly looking at smaller Midwest college towns. Definitely nothing in California where we live! No cash flow here either. I've tried looking for wholesalers in some of the college towns we're looking at and haven't found any local ones since they're small. But I'll keep searching any try looking in bigger markets where I can find wholesalers. Thanks much!!

My husband and I are ready to start our journey investing out of area but are having a hard time locating deals that fit the BRRRR criteria to be able to pull all of our money back out. We've located several markets we're interested in (and appear to generally work for cash flow) but using MLS I feel like we aren't quite at the price points we need to be at for BRRRR to work. For those who are successfully using this strategy, how are you finding your deals? Are they mostly off market, direct marketing deals? Thanks for your help!

@Marisol Aninon How do Turn Key companies make their money? It seems like a great set up for investors wanting passive income living in faraway places!