All Forum Posts by: Ben Fernandez

Hi BiggerPockets community!

I’m excited to introduce myself as an investor and realtor with 18 years of experience in the real estate industry. Over the years, I’ve gained hands-on knowledge in a variety of areas, including tax liens, tax deeds, rental properties, and fix-and-flips. Additionally, I’m a licensed realtor in Pennsylvania, which has allowed me to expand my expertise and build a solid foundation in both investment strategies and the local market.

I’m eager to connect with fellow investors, share insights, and learn from this amazing community. Looking forward to exchanging ideas and experiences!

Feel free to reach out if you want to chat about any of these topics.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $68,000
Cash invested: $70,000
Sale price: $195,000

I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays. Despite facing setbacks, including a year-long renovation process, I tackled the repairs, improved the interiors, and addressed all concerns. In the end, the project was completed successfully and sold for a profit. This experience proves that even with challenges, strategic renovations and persistence can lead to a profitable outcome.

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

I didn't think I would find a deal to begin before the end of the year. But I found one on the MLS through an awesome realtor.

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

I worked with a realtor to help me find this one.

How did you finance this deal?

Cash

How did you add value to the deal?

We had to replace 90% of the electrical, created an open concept, primarily all new drywall, new boiler, new roof, etc. It ended up a beautiful property.

What was the outcome?

We sold to a couple which was their first home.

Lessons learned? Challenges?

When you see red flags, adhere to them even if the prior relationship has been good. This was the worst project I’ve ever done. It should have been 2-3 months and I was in it for 7 months renovation and then took almost 4 months to sell. We hit the first shift of becoming a favorable buyers market.

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

Yes. I’m open to share my referrals to any who’d like to know.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $74,000
Cash invested: $25,000
Sale price: $145,000

I acquired a property from a couple needing to relocate, with significant repairs required. After renovating, I updated the interiors, addressed exterior issues, and enhanced the overall appeal. Once completed, the property was resold to new homeowners, providing a solid return on investment. This project highlights how purchasing from motivated sellers, making strategic renovations, and selling to retail buyers can lead to successful outcomes.

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

The owners reached out to me from a direct mail campaign. When we met, I learned that it was a project I was interested in. So I made them an offer. They liked my offer and the rapport I built with them and decided they wanted to sell to me even though another offer was higher.

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

The owners called me expressing interests in selling after receiving direct mail. I negotiated by being honest and transparent about every step in the process.

How did you finance this deal?

I purchased this deal with a private/hard money lender.

How did you add value to the deal?

There was minimal demolition needed on this project. I revitalized the front and rear lawns, fully updated the kitchen and bath, along with new flooring, paint and the works.

What was the outcome?

We sold to an attorney who provided a retail-cash offer and quick close, relocating to the area.

Lessons learned? Challenges?

There were some communication learnings on this project where I acknowledged to emphasize expectations.

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

I would recommend my lender on this one. All other parties were used from a prior project. I’m loyal with people who provide good service.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $35,000
Cash invested: $35,000
Sale price: $110,000

Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance. Upgrades included modernizing interiors, updating plumbing and electrical, and enhancing curb appeal. After staging, it was sold to a retail buyer for a strong profit, demonstrating the potential for significant returns by buying from motivated sellers, renovating strategically, and selling at retail.

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

The property was vacant and to maintain integrity in the neighborhood, the property needed renovation. With the property needing lots of work, I provided a solution to the owner. The return on the investment was worth the time spent on the project.

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

I found this deal driving for dollars. Was able to make contact with the owner to see if he was interested in selling and he was.

How did you finance this deal?

I financed this deal using private/hard money.

How did you add value to the deal?

We created an open concept kitchen to open the space up, added a new rear porch, removing the enclosure and fully renovated the interior.

What was the outcome?

The cash on cash return was 6-8x.

Lessons learned? Challenges?

Interviewing to align the best talent was a challenge due to being very tedious. However, I established many meaningful relationships for those I hired then and later in the future.

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

Yes. I received some referrals from other real estate professionals that I still use to this day.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $35,000
Cash invested: $35,000
Sale price: $110,000

A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance. The renovation process included modernizing outdated features, updating plumbing and electrical systems, and enhancing curb appeal. After the improvements, the property was staged and marketed to retail buyers. The home was then sold for a profit, providing a strong return on investment. This strategy showcases how buying directly from motivated sellers, renovating strategically, and selling retail can yield substantial financial gains in a relatively short time frame.

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

The property was vacant and to maintain integrity in the neighborhood, the property needed renovation. With the property needing lots of work, I provided a solution to the owner. The return on the investment was worth the time spent on the project.

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

I found this deal driving for dollars. Was able to make contact with the owner to see if he was interested in selling and he was.

How did you finance this deal?

I financed this deal using private/hard money.

How did you add value to the deal?

We created an open concept kitchen to open the space up, added a new rear porch, removing the enclosure and fully renovated the interior.

What was the outcome?

The cash on cash return was 6-8x.

Lessons learned? Challenges?

Interviewing to align the best talent was a challenge due to being very tedious. However, I established many meaningful relationships for those I hired then and later in the future.

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

Yes. I received some referrals from other real estate professionals that I still use to this day.