All Forum Posts by: Clint Bradley

I haven't but i love the idea of building that cash flow up and then buying.  Good luck

WOW! Great job! I love to see it

A couple buddies and I are just starting talks about getting into flipping together. What's the typical way people in a partnership but their first property? Llc doesn't seem feasible yet since we haven't yet created one. And even if we did it wouldn't show any money going through it. We're going to be going over individual responsibilities to get this thing started as well. Any advice on what responsibilities we should make sure we address would be great. Lastly as for bigger pockets podcasts which ones are the best listenings for a partnership and/or flipping episodes in your opinion. Keep in mind we're just starting out. Thanks in advance for all the input.

Clint

Dave,  I did the painting and landscaping myself, hired out the rest.  I'll definently be investing in more real estate.  

Adam, I'm on the west side in Saint Paul if you're familiar. 

Investment Info:

Small multi-family (2-4 units) other investment in Saint Paul.

I'm house hacking a duplex

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

Reducing one of my biggest expenses, housing.

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

I found this deal on Redfin and than text my agent for a showing immediately. We took a look at it and I knew i wanted. this was on a Thursday. They had a open house with a ton of interest set up for Saturday. I offered full list day one and they said No because of the open house interest as well. My lender ended up knowing the sellers agent and figuring out what needed to be offered to get the deal done.

How did you finance this deal?

VA financing

How did you add value to the deal?

I added new LVP flooring, washer and dryer (full install), new paint and land scaping.

What was the outcome?

great. they were getting $625 for rent i was able to bring it up to $1020

Lessons learned? Challenges?

lessons learned have a solid team and follow up to make sure things are getting done. inspect what you expect.

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

yes I did. Kyle Babcock was my agent who now i actually work with. and Liz Peter from leader one was my Lender

@Aleksi Moran if you ever want to chat. I currently am house hacking and love to talk about it. In addition to that if you ever wanted to just go look at some places I am a real estate agent. No pressure let's have some fun with it.

@Roman Ripp what part of Saint Paul is the property located?

So i just got into investing.  I just bought my first duplex back in September and everything is going great with that.  Anyway the week i was closing on my property the neighbors placed burned up. The fire dept put the fire out to minimize damage by the fire. The house ended up getting condemned because the owner was a hoarder in addition to the damage, come to find out the owner hasnt paid taxes in 3 years forfiet date for the property is in 2021. The house is paid off. When i made contact with him i asked how much he was looking for. He didnt give me an amount at all. He said the house was in his family since 1933 and has a lot of sentimental value to him. My thought is if it had a lot of sentimental value he wouldnt have let it get as bad as it is. Also sentimental value doesnt translate to dollar value very well. Anyway, any suggests on how to get him to put a dollar value on this property? In addition to that if i do get this property. Does any one have any financing experience whether it be better to rehab this disaster or completly tear it down and start new. The 5 companies i called so far said they wouldnt finance a rehab on That kind of property. But i have found at least 1 company to that sounds promising on getting a new build loan. The house was built in 1925. Any suggestions would be appreciated.  

what time is the open house? 

So I just purchased my first duplex which I'm house hacking. In the side im renting out I've put in new lvp flooring, painted everything it looks great but I'm trying to decide if I should put all new cabinets and counter tops.  The ones that are in there are nice.  They aren't great but they aren't terrible id say they are usable,the color is white. My question is should I replace the cabinets and counter top with new ones or just leave it as is? Is it worth it to fix? Note you do walk through the kitchen any time you need to go ti the bathroom or bedroom