All Forum Posts by: Daniel Guest

Are the Bigger Pockets tools available on the app? I did not see them anywhere but I was unsure if I was missing something. Thanks.

Investment Info:

Condo fix & flip investment in Helena.

Purchase price: $79,000
Cash invested: $16,600
Sale price: $143,500

This nice little condo is located in an old historic hotel known as the Placer, in down town Helena, MT. This was a 1 Bdrm, 1 Ba unit with mountain views. A highlight of this unit is the high ceilings with a quaint modern feel and nicely appointed kitchen. Old drop ceilings were removed and custom made accent lighting installed to maintain an open feel but hide the industrial piping on the ceiling.

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

I liked the aesthetics of the property. The quaint old hotel building was really cool and the location in the historic district of down town Helena made it very appealing.

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

I found this deal on an auction site. I got it for less then the reserve price because they thought that it was still occupied. There was a lot of red tape to deal with which I think frightened other investors off.

How did you finance this deal?

I financed this deal with personal money and a line of credit on my personal property.

How did you add value to the deal?

I removed drop ceiling tiles and added custom accent lighting, completely updated the kitchen, and painted everything. I also added a lot of detailed trimmings.

What was the outcome?

Every person that looked at the property just loved the remodel, particularly the lighting. I made a cool $48k out of the deal which was nice and the new owners are really excited to live in this space.

Lessons learned? Challenges?

I had never worked on a remodel in a commercial building before, let alone a condo. I had to apply for permits that I was not anticipating and I had to hire work done that I was not counting on either. Ultimately this project ended up taking and extra month to renovate as a result of the slow moving permitting process.

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

I bought the property without a realtor and I listed it using a fixed price listing agent. The selling process actually went very well and I think I got a pretty good price.

Investment Info:

Mobile home fix & flip investment in Belgrade.

Purchase price: $160,000
Cash invested: $15,000
Sale price: $315,000

I purchased this property with a friend and we split everything 50/50. This was really what kick started me into the idea of doing this on a full time basis. This was a single family modular home on a solid foundation. The property was being sold through an auction and we were able to add an incredible amount of value just by cleaning it up and splashing a little paint around. Our realtor had clients on the hook the minute we finished working on the house.

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

There was a tremendous amount of value add which is what attracted me most. I could see what other people could not which is why the deal was still on the table after going through the auction multiple times.

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

I found this deal initially on Zillow when I was looking around in my neighborhood for house deals. I saw that it was an auction and then went to look at it.

How did you finance this deal?

My partner and I split the purchase and the rehab 50/50 using the HELOC on our personal residence.

How did you add value to the deal?

By cleaning up mouse poop, painting, flooring, and generally giving the property a face lift.

What was the outcome?

We each walked away with about $60k of profit and the buyers got a really solid home on a great lot.

Lessons learned? Challenges?

Not all deals will be this good! Always make sure you trust and know the person you are doing business with. It helped that we were both very aware and had a good relationship.

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

Yes, we worked with an agent to list the property. He was a great guy and I would work with him again. His name is Richie Pemberton.

Investment Info:

Mobile home fix & flip investment in Belgrade.

Purchase price: $160,000
Cash invested: $15,000
Sale price: $315,000

I purchased this property with a friend and we split everything 50/50. This was an amazing first flip and was really what kick started me into the idea of doing this on a full time basis. This was a single family modular home on a solid foundation. The property was being sold through an auction and we were able to add an incredible amount of value just by cleaning it up and splashing a little paint around. Our realtor had clients on the hook the minute we finished working on the house. This was a great example of everything going right the first time! Hoping to get more of these.

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

There was a tremendous amount of value add which is what attracted me most. I could see what other people could not which is why the deal was still on the table after going through the auction multiple times.

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

I found this deal initially on Zillow when I was looking around in my neighborhood for house deals. I saw that it was an auction and then went to look at it.

How did you finance this deal?

My partner and I split the purchase and the rehab 50/50 using the HELOC on our personal residence.

How did you add value to the deal?

By cleaning up mouse poop, painting, flooring, and generally giving the property a face lift.

What was the outcome?

We each walked away with about $60k of profit and the buyers got a really solid home on a great lot.

Lessons learned? Challenges?

Not all deals will be this good! Always make sure you trust and know the person you are doing business with. It helped that we were both very aware and had a good relationship.

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

Yes, we worked with an agent to list the property. He was a great guy and I would work with him again. His name is Richie Pemberton.