All Forum Posts by: Dave Chu

I attended a live seminar with Mike and believe me when I say this - he offered a wealth of information and knowledge that seemed so simple, that I never thought of. Risk management, calculations, etc. 

I flew all the way from Los Angeles to Columbus and only chatted with Mike online a few times but it was all worth it. 

Hi @Cassi Justiz I am 100% open and willing to learn and analyze about any market with pretty decent returns, assuming a 100% cash purchase price and I can generate about 12%+ ROI annually. I'll calculate the COC returns if I choose to leverage. Please feel free to PM me about what you and your brokerage have to offer, thank you!

Hi BP family, 

I just signed up for my Pro account and excited to meet fellow like minded investors as well as new investors for me to share some of my past experience with. 

Right now I am actively seeking opportunities out of state, my background is mostly flipping homes but I am highly entertaining the idea of BRRR. I would like to start on a smaller acquisition such as below $125,000 if possible, but that is why I am looking to connect with professionals out of state so I can learn more about your marketplace.

I am also open to multi-family opportunities. 

If there is anything I can share with the BP network please let me know, I will continue to update my profile with some of my previous projects and some lessons learned on each project. 

Couple mistakes as I typed that post on my phone. I meant interest only payments and 1 point of the loan amount if the loan was renewed, which in my case it was once. 

Investment Info:

Single-family residence fix & flip investment in Los Angeles.

Purchase price: $755,000
Cash invested: $120,000
Sale price: $1,160,000

Quick turnaround with a lot of lessons learned

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

The numbers made sense and I flipped homes before

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

My wholesaler brought this deal to me, waited a few days and knew I would be able to negotiate the acquisition cost a bit more

How did you finance this deal?

Hard money 80% LTV, interested only, 6 month renewal at 1 point if loan volume.

How did you add value to the deal?

Added a second bath which ultimately became the master bath. Enclosed some walls to create a mud room/laundry room. Made the backyard more aesthetically pleasing.

What was the outcome?

Revamped a home in the neighborhood, brought in a happy buyer, made my ROI and moved on to the next

Lessons learned? Challenges?

General contractors... major lesson learned. Be sure to interview plenty of them before committing to one.