All Forum Posts by: Chad Spanberger

As a new real estate agent where or how do you collect the most accurate and information about your market area? I would love to hear some ideas on where to find data! 

So a few questions came up in our real estate salesperson class and wanted to get more opinions outside of our teacher. 

The first question was, "when someone ask us why do they need an agent for finding a house when there are multiple websites (zillow, realtors.com, etc.) what is your response to them?"

Also, what are some of major tax write off's that I can do when I start working and open an LLC?

Investment Info:

Single-family residence fix & flip investment in Fayetteville.

Purchase price: $110,000
Cash invested: $25,000

We bought this property that a guy started to remodel and decided to sell it. We got it super cheap but had to get a construction loan for it because the remodel is about $80,000. We took to the studs, opened the living room up to the kitchen, new drive way that can fit 5 cars, and converted the carport into another primary suit. This house will be around 2k square feet once finished and be a 4 bed 3 bath. This will be another rental for college students and should bring in around $800 a month.

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

We were able to get this house for $110,000 when the average price for this neighborhood was the high 200's.

How did you finance this deal?

Construction loan

How did you add value to the deal?

Complete remodel. Added about 200 square feet of living space and another bed and bath.

Investment Info:

Single-family residence fix & flip investment in Fayetteville.

Purchase price: $110,000
Cash invested: $25,000

We bought this property that a guy started to remodel and decided to sell it. We got it super cheap but had to get a construction loan for it because the remodel is about $80,000. We took to the studs, opened the living room up to the kitchen, patched the room, new drive way that can fit 5 cars, and converted the carport into another primary suit. This house will be around 1850 square feet once finished and be a 4 bed 3 bath. This will be another rental for college students and should bring in around $800 a month. We currently own 4 houses on this street and hope to own as many as we can.

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

We were able to get this house for $110,000 when the average price for this neighborhood was the high 200's.

How did you finance this deal?

Construction loan

How did you add value to the deal?

Complete remodel. Added about 200 square feet of living space and another bed and bath.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $185,000
Cash invested: $40,000

This was the typical buy, update and then rent. When we bought it we did not realize we had foundation problems so that was a big expense at first. Everything else was cosmetic updates.

How did you add value to the deal?

We updated the floors, painted the walls, and moved the kitchen. Also fixed the foundation that was cracked and sinking.

Lessons learned? Challenges?

Expect the unexpected

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $30,000
Cash invested: $60,000

When we first bought this we thought we would fix and flip it. But, it sat on the market for a few months and a couple came to us and wanted to do rent to own. As we all now the market exploded so we refinanced it and pulled $60,000 and we used this money to buy another investment property and used the rest for a down payment on my own home. We just listed it for $185,000 and if it sells for that we will get another $35,000!

How did you finance this deal?

Owner finance and cash for remodel

How did you add value to the deal?

We bought this house that had been completely gutted to its studs. We converted the attached garage into a primary suit, laundry, and mud room. The only thing we kept was the metal roof, exterior studs, and floor joist.

Lessons learned? Challenges?

I personally learned so much from the construction side of the business. My partner and I did all the work besides the HVAC.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $35,000

Rental property to college students.

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

With the rental market in my city we are able to charge more for students than we could a family.

How did you finance this deal?

conventional loan

How did you add value to the deal?

We remodeled the inside and added a deck in the back. We expanded the primary suit bathroom and took down a wall that you use to walk straight into when you came into the house.

What was the outcome?

We refinanced and pulled out about $50,000 and bought another house down the road for the same use.

My childhood best friend’s parents are selling their house and I am wanting to do a buy and hold rental with it but finance it with owner finance.

I have never done an own finance before and would love some feedback from people who have done them and the pros and cons.

@Jeremy Trad My goal for the future is to have buy and hold for rent but would also do some flips if it the numbers made sense to.

My name is Chad Spanberger I am a professional baseball player in the Milwaukee Brewers organization. I have been in the MiLB for almost 4 years now but I have also been flipping and renting out houses for 3 years too. I first started with my best friend and roommate back in college and ever since our first flip I have fallen in love with real estate and what it can do for my career and future!

I started listening to BP podcast this past year and I love the questions they ask on their because they are the same questions I think about since I am still a rookie in this business. I’m excited to meet expand on my network of people and possibly become partners down the road!