All Forum Posts by: Cassidy Melhorn

Investment Info:

Single-family residence wholesale investment.

Purchase price: $200,000
Cash invested: $200,000
Sale price: $305,000

Wholetail. The person who bought from me went on to sell it for $370,000

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

Im always buying this type of deal

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

Volhomes.com website lead

How did you finance this deal?

Used my own cash

How did you add value to the deal?

I spent a lot of marketing money long before this deal ever came along. I also had cash waiting for this deal, which was valuable to the seller.

What was the outcome?

Everyone won

Lessons learned? Challenges?

I got the bag but left a little money on the table but was able to continue focusing on long term wealth

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

Victoria Melhorn is the best realtor in Tennnessee so that makes life easy.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $65,000
Cash invested: $125,000
Sale price: $325,000

Single Family Flip

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

I'm always buying these

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

Someone reached out with the deal and I paid them $$$ for the referral

How did you finance this deal?

Used my own money

How did you add value to the deal?

Renovation

What was the outcome?

It turned out nice

Lessons learned? Challenges?

Reconfiguring floor plans costs time and money, so why do it

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

Realtor Victoria Melhorn

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Knoxville.

Purchase price: $85,000
Cash invested: $185,000

4 unit in Knoxville

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

I'm always buying this type of deal

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

Across the street from a flip- got the phone number from the guy mowing

How did you finance this deal?

Used my own money and then cashed out with credit union financing

How did you add value to the deal?

Renovation

What was the outcome?

250k plus my total investment back in my pocket and $500/mo for life

Lessons learned? Challenges?

Use city archives to determine if property was legally converted to multi unit. If it was, you can skip a lot of processes from the city when installing multiple electric meters

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

Victoria Melhorn is the best realtor for landing these deals

Myself? 

Thanks. Will do!

I’m not sure which 3 you’re referring to but  this one turned out great thanks!

Investment Info:

Industrial commercial investment investment in Knoxville.

Purchase price: $5,000
Cash invested: $20,000
Sale price: $70,000

Contractor's Supply Building in Downtown Knoxville on National Register of Historic Places that had been abandoned and blighted almost to the point of being irrecoverable. I purchased the property for $5,000 and cleaned the place up, secured it against unauthorized entry, and painted the exterior. We sold the property shortly thereafter for $70,000, saving it for future generations to enjoy.

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

It was cheap for the property.

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

Purchased multiple properties inherited by the same seller.

How did you finance this deal?

Cash

How did you add value to the deal?

Cleaning the property up and securing it from squatters.

What was the outcome?

50k profit and saved a Historic building for future generations to enjoy.

Lessons learned? Challenges?

Follow up is key.

Investment Info:

Single-family residence fix & flip investment in Knoxville.

Purchase price: $50,700
Cash invested: $90,000
Sale price: $205,000

Beautiful vintage 1920 Craftsman in the heart of North Knoxville. Property turned out incredible and the buyers were super excited.

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

90k profit

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

Foreclosure

How did you finance this deal?

Mayonnaise Jar Money

How did you add value to the deal?

Renovated it

What was the outcome?

Profited 90k

Lessons learned? Challenges?

Move quickly

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

Victoria Melhorn was my realtor and sold the house in 1 day. Highly Recommended.

Investment Info:

Single-family residence wholesale investment in Maryville.

Purchase price: $101,000
Cash invested: $116,000
Sale price: $122,000

Quick wholesale to a repeat cash buyer who sold the property for $197,000 a short time later.

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

It was well below market value and I initially intended to rehab myself.

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

Foreclosure

How did you finance this deal?

Piggy Bank

How did you add value to the deal?

By securing it.

What was the outcome?

I made a little money. The rehabber that bought it from me made a lot of money.

Lessons learned? Challenges?

Trust your numbers.

Investment Info:

Single-family residence wholesale investment in Knoxville.

Purchase price: $34,000
Cash invested: $34,000
Sale price: $37,000

Quick wholesale property on great street in Knoxville. ARV was $129,900 and the property needed about 35k in repairs.

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

Quick flip with an experienced cash buyer.

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

Call. A wholesaler had abandoned the contract on the young lady who had inherited this house. We closed in a couple of days.

How did you finance this deal?

Couch cushions

How did you add value to the deal?

Did exactly what I said we would do.

What was the outcome?

I won, the seller won, and the gentleman who purchased the property to flip won big time!

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