All Forum Posts by: Christian Ryan

@Nicole Marshall it was on the market, but my agent helped me negotiate a better sale price. They originally wanted $140k as is we negotiated for $102.5k. I am waiting for her to find me one more deal.

I meant Friday 11, December not Tuesday!!

Just got the loan approved closing Tuesday the 11th. Any advice would be appreciated. I am excited and nervous. 

Investment Info:

Single-family residence fix & flip investment in Melbourne.

Purchase price: $102,500
Cash invested: $39,000

Single-family home in growing West Melbourne on large lot. Adding one master bedroom and master bath.

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

Location and purchase price which allows for multiple exit strategies to include BRRRR. Great potential for appreciation in a growing community due to Space X and other companies that provide services for the Federal Government.

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

Found a great agent the found the located the property and assisted with price negotiation.

How did you finance this deal?

Using hard money.

How did you add value to the deal?

Will be adding a master bedroom, bath, and converting part of the garage to a laundry room still allowing for two cars to fit inside. Once completed I will be adding 505 sq ft to the property.

What was the outcome?

Still working on the deal. The rehab should be completed in March.

Lessons learned? Challenges?

So far I learned I realized the importance of having great people on your team. The real estate agent I found is top-notch. With her insights and assistance, the deal would not have gone through.

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

I am working with an agent, architect, and subcontractor.

Question. I am buying my first investment property and all looks great except for the fact that it’s listed as a 3/1 but the extra bedroom is not on the county tax collector site. What should I do next?