All Forum Posts by: Carl Dieckmann

no, I totally get it regarding the utility companies. I'm talking about the best display software for showing mapping and unground lines. thanks!

I am currently in the process of buying a mobile home park. The utility line diagrams are very old, and hand drawn. My investing partner and I would like to eventually move to some newer maps, preferably something digital which can display distances. Does anyone know of any software which may fit my needs? I would like to keep the costs below $50. Thank you!

I am looking at a MH park for myself and and investor here in central TX. I have listed to episodes 262 and 345

Investment Info:

Other other investment in Lago Vista.

Purchase price: $7,000
Cash invested: $7,000
Sale price: $17,000

This is an unimproved lot in Lago Vista which I bought from Travis County. It was previously foreclosed in a tax foreclosure and didn't sell at auction. I knew the lot was worth more than the legal fees and back taxes due to the close utilities. I bought it with another investor, sat on it a year to avoid capital gains, and sold it for a 10k profit.

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

This type of lot with utilities is in demand in this town

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

Back taxes and legal fees are owed to the county. Basically there is no negotiation.

How did you finance this deal?

Cash

How did you add value to the deal?

-

What was the outcome?

nice profitability for minimal work and risk

Lessons learned? Challenges?

deals like this are hard to come by, but welcome when they do

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

none other than my real estate team, the Emily Dieckmann Real Estate team in Lago Vista TX

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $179,000
Cash invested: $40,000
Sale price: $230,000

This was my first rental unit, and a home my wife and I bought when we first got married. She used it as her residence for 1 year when I was in the military overseas and then we converted it to a rental. This is a great example of how a property when you hold onto it can be a little cash cow over the years.

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

I heard real estate investing was good, but new very little about it.

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

It was a new build in a tract neighborhood. My wife bought it without me even looking at it.

How did you finance this deal?

ARM loan. They were popular at them time.

How did you add value to the deal?

When I got out of the military, at about year 10 of owning it, we lived in it for a few months and renovated.

What was the outcome?

Sold and 1031'ed it into other projects

Lessons learned? Challenges?

1) I could get better cash flow on a different investment 2) I had one set of bad tenants on this project... it was hard to get $$ out of them 3) Out of state and overseas management is more challenging without a property management company.

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

Lisa Perry, from the Lisa Perry Group in Nashville helped us sell the place. She did great. Much appreciated!

I agree with Chris' comments above... not really a wave in Vegas but a straight shoot up. However, I am no longer very wise on this market since I moved to Austin about 5 years ago. The numbers on the outskirts of Austin are very solid right now... you guys should take a look.

I now live in the Austin TX area, and came across a few other opportunities I wanted to roll the money into. The appreciation wave was very nice during that period of time... I would love to take credit, but I kinda feel more luck than good. However, I'm trying to refine my guesswork to actual analysis. So far the Austin area has treated me well.

Investment Info:

Other buy & hold investment in Lago Vista.

Purchase price: $45,000
Cash invested: $1,000

A good buy and hold commercial lot in Lago Vista TX

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

Commercial lots in this small town were starting to go away, and I felt this was a good deal

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

MLS

How did you finance this deal?

Cash from a 1031

How did you add value to the deal?

nothing

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $122,000
Cash invested: $1,000
Sale price: $218,000

A great buy and hold in Henderson NV (Las Vegas). I bought at the bottom, held a few years, and 1031'ed to another investment.

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

I knew the Vegas market was down, and felt it was a great time to buy. Home to rent ratios were great.

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

My agent

How did you finance this deal?

conventional mortgage

How did you add value to the deal?

Honestly, not much. I just gained value from an under appreciated market.

What was the outcome?

Doubled my $$ in 2 years

Lessons learned? Challenges?

I would love to take credit, but I honestly won based on the huge Las Vegas housing swings in the last few years. My future investments have done well, but have involved much more analysis.

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

Sergio Montegrande... he's great.

It was my first where a tenant didn't pay. Was short on rent for 5 months... took him to court. Was old and claimed he didn't know what was happening, then stated "no contest" in front of the judge and paid in full. He was a good actor, up to the point of getting in front of a judge.