All Forum Posts by: Brandon Michielli

Hmm.. for long term investments I would take option 7.

buy 2 to 4 homes with 25% down and use cheap bank money to finance the rest. Get some decent cash flow from each property and watch every unit appreciate over "long term" while you get to depreciate on your taxes.

I'm curious to see what others would do with their first $100k for long term investing.

This is similar to how I started out. The difference is I purchased flips with low down and used hard money to purchase and my heloc to renovate to turn my 100k into more. That way my heloc was paid off and I had money to invest in multi family. 

Heloc is a great option. Low interest and easy to obtain if she owns free and clear. I cant think of a better way to use cheap bank money for investing!

Good luck!

Do I get a shout out for buying it? Or is was this a different deal? 🤭

22 dump truck loads of trash out of this 1! Its now ripped down to the studs getting ready for new electrical and plumbing!

I am using Kodiak General Contracting as my general to build this multi family. I am blown away at how well these guys have done so far. They have saved me thousands from the original plans and they are super active and ontop of the subs.

4 degrees management will be filling this unit for me and managing it. They do some current properties for me now and I have nothing but great things to say. The 2 brothers who own the company really have it together. They have far exceeded my expectations in property management.

Bo,

As a current investor in WA state I would start with looking at auction.com in the area you'll be moving to. Although the toughest thing you can do right now is find a great deal on a home. You'll also want to reach out to wholesalers in the area. For me this year I have been getting better deals through wholesalers in my area of Spokane WA. Try googling.

Good luck!

I have been through this a few times. It's always been an extra cost to me but I always use a new appraisal company and i ask that I be around to meet the appraiser so I can inform them of exactly what I did and why I did it. On all 3 circumstances I had great success with the 2nd appraisal.

Good luck!

I wanted to share a quick 2 month flip deal we did in Spokane WA on the south hill. Also a shout out to Aaron Farr for selling this place for me.

we purchased this home for $215,000. Put $30,000 in clean up and repairs. New counter tops, flooring, paint, dishwasher, and basement carpet. Aaron Farr was able to sale it for us for $310,000 and we closed last week.

We did run into a extensive list of repairs from the inspector that were unforeseen. Total repairs from inspector was about $5,000. Aaron advised me to get homes inspected before purchasing. It was a lesson learned and fortunately one that didn't make a deal go backwards. I also learned that for an affordable price you can have an inspector come through and inspect a house before you list it. Our first offer on this house actually fell through because of the first inspection report.

If your getting into flipping I highly recommend doing this. The house would have sold 2 weeks sooner and I could have been ontop of the repairs I previously didn't even know about 

Here is an updated photo from last week.

Investment Info:

Large multi-family (5+ units) buy & hold investment in Spokane Valley.

Purchase price: $60,000
Cash invested: $150,000

This project started as a ran down tri-plex that we demolished and are in the middle of putting up a 8 unit apartment. The roof is now on and the windows are in. We hope to be renting it out this spring

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

Growing my real estate portfolio.

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

Another investor friend of mine had acquired this property to do the same thing and didn't have the time to tackle it. I did some business favors for him to obtain it for myself. (We landscaped some of his other developments)

How did you finance this deal?

Paid cash to purchase and used First Interstate Bank to fund the project.

How did you add value to the deal?

My partner and I own excavation, trucking, and materials businesses. We do all our own dirt work, sewer hookups, landscaping, and demo work.

What was the outcome?

Yet to be seen.