All Forum Posts by: Carey Greiner

@David Waddleton

How much are you setting aside for capital expenditures, ie: new water heater, repairs, roof, pavement concrete. Over the years, depending on your hold time, you’ll have to account for these items. The amount depends on age and condition of the property.

Thanks Grayson! Great to be a part of this and feel honored to have gotten to know you and do some business with you, through this investors group.

BTW...I have a couple rehabs coming on the market for cash buyers and am looking for a multi family complex in Oregon to purchase with cash.

Josh, stokes that you are finding and analyzing deals; good going. My experience has shown me this stuff is challenging emotionally and financially adding a layer of stress to my life for weeks or months. Strong analytical data and financially staked partners have relieved the stress, for me. Others say the fear, even if just ‘butterflies’, doesn’t go away after doing many and may increase as deals get bigger. I’d like to see better numbers but for a hot market that you can house hack into, it may be your piece to capitalize on. Wish you the best!

@Josh Wade

And the rehab costs can go way up, especially as a newbie.

It looks like there is negative cash flow each month, are you only betting on appreciation?

I’d love to get a multi family under contract at like 75% of after rehab value, should cash flow at least $100 door after all expenses and Mgmt fees. Does this deal do that?

How many offers have you written? How many deal do you get from Realtors &/or leads?

@Chuck Mader

I think the realtor needs to provide value and earn your business. Seems quality folks are always worth investing into.

@Keith Hackett as a Realtor I can spend a lot of time assisting a Buyer that may or may not actually buy. I choose to work with only friends or referrals, but can work with a committed buyer that trusts me, so have used buyers contracts to clearly state the position. There are ‘outs’ that allow a buyer to cancel the contracts, usually.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $205,000
Cash invested: $50,000

Bought from a Seller, who had to pay off a balloon payment, from a previous purchase on seller financing, with foreclosure looming. Closed and rented back to Seller for $1600/mo. until they vacated about 9 days after closing. Cleaned, painted, replaced some flooring and had it listed for sale in MLS within two weeks. Had lots of interest and pending sale at $265,000 with no concessions. I partnered with another cash investor and we netted $56,000 after all costs.

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

the profit to be realized was enticing

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

I was referred this deal by another investor who took 'a pass' on it and I paid him a $2,000 finders fee.

How did you add value to the deal?

Brought the deal to a partner that realized a quick return

What was the outcome?

Profit on a very quick turn

Lessons learned? Challenges?

Finding 'great' deals is key to making money without having huge problems

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

I'm a licensed Broker, for 11 years, and have been running analysis on deals for over 10 months and networking with other professionals

5pm at Level 2 - Thursday September 6th, 2018, come on- come all! I have two speakers willing to discuss their thoughts on analyzing investment properties and how to make money in today's market in Central Oregon. Will get us some appetizers and non-hosted bar.

Please continue to invite your friends and partners in the game and those looking to get into the game. Also feel free to bring any deals that your looking for partners/investors/etc. on. I'll ask about any 'haves & wants' too so you can share verbally.

@Grayson Graham - you emailing the list we have, of this event too?

@Johnny Champa @Amanda Johnson @Account Closed 

**this place is next to REI in the old mill and we'll take the 'conference' room just at the entry way to the joint.

@Grayson Graham & @Karen Margrave - 

Thank you both for being active on Bigger Pockets and for the opportunities you've developed to get local investors together in Bend and Central Oregon. I'd be happy to invest time and resources to develop the next 3 Meetups. If any one wants to assist with the development of topics and speakers, I'd love to chat. Let's keep the meetup at level two for September 6th, I'll find a sponsor and a speaker and Grayson has an email list. Please reply to add you email to the list and we'll keep the opportunities rolling. Thanks!

@Jamin Littell

I ended up setting up the LLC in Oregon at Cheri’s recommendation. Seeing my CPA Tuesday and will make sure this is the most effective thing for me to do. Will likely hold Properties and pay myself from the LLC. Just call Cheri and she’ll get you legit and for little $