All Forum Posts by: Catie Lawrence

@Paul Smythe no way! I think you have to get creative, have clear goals & work your a$$ off initially - this is not a ‘dip your toe in the water' kinda strategy. I own a small re investment company with my husband & have done all deals/flips ourselves/with a crew & we've made great money & have cash flowing rentals. We've financed all ourselves, via cash, cash out re-FI, HELOC and did one flip in a partnership that wasn't a good fit for us financially (we did all the work, put in 1/2 of the $$ and split profits 50-50, so didn't make sense to continue.)

I think it goes back to what your goals are - if you want to build an empire, partnership is probably the way to go. If you want a few investment properties to fund your lifestyle so you can do what you want, it’s possible!

Viva La Small RE Investors everywhere!!!!

@Chris Lopez I’m so filling this out! So many questions……so many! Great idea!

@Chris Lopez oh earmarking this one!!!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $337,000
Cash invested: $40,000

We just purchased a 4 bed, 2 bath off-market property we intend to flip!

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

Great house, rough location, and ready to be back in the game!

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

Wholesale deal

How did you finance this deal?

Cash

How did you add value to the deal?

We’ll be completely renovating this, doing things the right way - egress windows, canned lightening, updated electrical.

What was the outcome?

Hoping to list it by October

Lessons learned? Challenges?

We’re more off-hands then we’ve ever been before and lesson so far is you need to actively manage your subs…

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

Myself - Although Heritage Title was a breeze to work with as well, so shout out to them!

@Ryan Matze hey hey! Just bought a flip in Commerce City - welcome to the party!

@Catie Lawrence oh and you can only STR it 240 days a year…

@Damian Cummings

So exciting!

I have two rentals in Arvada and short-term rent my own house while traveling. It's a great market for both LTR & STR I've found, although I don't do the STR for income, just supplements my COL. And the STR slows in winter (at least it did 2 years ago). Definitely would talk to other investors who have bought with something a STR in mind.

Good luck with the move!!

I agree with the above - if this was a brand new toilet, potentially charge - but take into consideration normal wear and tear (although it is an odd thing to have break!). And like the suggestion of fixing it once on the house, but letting them know next one's on them. 

@Zoie Holley awesome you’re getting into real estate at such a you g age - I truly believe it’s one of the best ways to build wealth.

I’d suggest joining some meetups in your area to stay in tune with the market - so many resources here on BP too!

Think a lot of things stop people - fear, laziness, comfort, complacency....it’s scary to do things you’ve never done that could have big risks. But as long as you plan, have your finances in order and educate yourself you’ll be fine! House hacking/roommates are a great way to get into the game too!

Good luck, you’re already miles ahead for starting!!

@Dan Mackin YAY! Can’t wait to attend!!!