All Forum Posts by: Daniel Church

Thanks Ryan! I appreciate it. 

So I found an off market house that would be a great flip or brrrr. The owners are moving to a senior living. Here's my dilemma. I wanted it for myself but went to a wholesale seminar so I figured I would give it a try because I would like to know all aspects of real estate. Well no one is biting probably because I only listed it on the local reia website and everyone is not wanting small towns. I think they're gold mines and I've heard of some others that are catching on. Anyway I want to flip it and was wondering if anyone knows of a lender that can do it in a week:.. my credit is above 700. I've designed and built a house to sell, I bought and flipped a foreclosure, and currently in a live in flip. The loan would be under 70% ARV. Or if anyone wants to make some money I'll assign it. I would hate for the sellers not to close. I have a traveling nurse ready to rent it "as is" too as an option. 4bed 2bath with 2 additional rooms needing egress in the basement. $115k

I’m currently have all my money in a live in flip but see opportunities all the time. I’m willing to not make any money off the first deal if the investor is looking to work with me long term. I’ve designed, built, and sold a house myself. I then bought a foreclosure's and sold it  through a realtor, and now I’m in a live in flip. I went to school to be an electrician, worked as a carpenter, and helped run a lumber yard. I need help in the financial and tax area. I’m listening to podcasts and audiobooks while I’m at work. I wish I would’ve read rich dad poor dad sooner. I’m willing to do all the work and I’ll work hard. If you’re interested I can send pictures and info on previous houses I’ve done. I’ll find a a new one to buy and flip and how I would flip it and you can decide if it’s something you want to do. Take care!

Investment Info:

Single-family residence other investment.

Purchase price: $160,000
Sale price: $263,000

New construction built to live in and sell after a couple years. Designed this with a pencil and paper trying to utilize space, simplicity, square footage, and appeal. Only contracted out the cement, Sheetrock, well, and asphalt driveway.

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

I like to build and wanted to learn the process from permits to completion.

How did you finance this deal?

Construction loan originally at $110,000 and a Heloc after basic completion

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

I listed the house myself but had a broker facilitate it for $1000

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,500
Cash invested: $40,000
Sale price: $205,000

Hoarder house foreclosure. 150 contractor bags, and a couple rollaways of garbage later we could start the demo. New windows, doors, Lp siding, fixtures, flooring, Sheetrock, kitchen, bathroom, trim and stairs. Relocated the laundry room, Finished the basement, made the kitchen and living room an open concept, extended the deck and added a back patio door, and more.

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

Low price high reward

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

I found it on an auction site and contacted the realtor/broker who was my neighbor in my last house.

How did you finance this deal?

Cash to buy then we did a Heloc.

How did you add value to the deal?

Repaired, reconfigured, and replaced most of the house.

What was the outcome?

Learned a lot and made money so it was a win.

Lessons learned? Challenges?

Trying to figure out what previous work was done and why. Trying to understand their theory but things didn’t add up so I redid it the right way.