All Forum Posts by: Chester Straley

@Caleb Godsey the utilities seem like the only killer; personally i would want to get $100-150/unit in cash flow...based from my experience with multis; like multis tho; the cash on cash return doesnt seem great; it would really depend as well on the cap ex & overall condition of the property/expected repairs; good luck!

@Mike Dorneman $7k, $20k, & $38k were the final amounts...however, I just lumped the offer together as $65k for all. I then offered them a land contract offer as well. They took the cash!

I heard on BP a while ago, that somebody suggested giving a seller 2-3 options when making an offer. As a Realtor, I’ve never liked that strategy....however, I implemented the strategy just last week, and now this week I’m buying 3 single family homes for $65K! It totally worked, and I’m stoked! Is anybody else using this strategy? What other strategies are working for you?

I am interested in selling a property via Land Contract, then selling that contract to another investor. How do I find those investors? Do they have a “name”????

Just got a contract on 6 units in 6 days using creative strategies. Land contract for 2 properties (2 single families) & a combo deal for 2 properties (duplex & downtowm building—store front & loft). The owner wouldn’t sell just the duplex so I combined it with another property he wanted to sell...all or none I said. Boo Yah!!!

@Patrick Britton I’ve done both. On a flip in my market, I can turn a 30% profit on a $50-100K project. I consider this low risk because I buy right & can never really lose money. I’ve flipped close to 20 homes. I’m on my 2nd spec now, and profits are around 20%. I partner with a local builder, finished product in 4 months. The profit margin is lower but overall numbers are higher, which is a plus. Spec in my area is $200-250K. I like both. I would do either, slight preference on flips.

@Shray Goel I also make sure I get inside each property to try to get an edge over the competition. I don’t think it’s exactly legal but oh well!

@Shray Goel nothing specific...just shut my mouth until the very end lol.

Just bought another property today at Sheriff Sale! Under $30K & has 1,100 SF & a huge garage. Going to get cold soon...BRRRR. I’ve bought my best deals at Sheriff Sales...highly recommend them...anybody else have good luck with them?

Just bought another property today! Duplex! $48K buy...nearly $600/month in cash flow! Should I lease a new Audi or buy another lol