All Forum Posts by: David Burton

Hello, I am looking to learn more about syndication and different methods for raising capital for real estate development. Are there any books you would recommend?

Thanks Lee Lim.

Ha Ha, thanks!!  I hear what you are saying, I was just thinking there may be agents or investors within the Bigger Pockets community that would be interested in connecting.  Thanks for your feedback.

Hi, my son, his wife and son are moving to Seattle this week from Costa Rica.  It is a long story but Ricardo is an adopted son who is a native from Costa Rica but he recently secured his visa to work at Microsoft.  He has temporary housing for one month but we are looking for options once the one month is complete.

We are looking for a place for him to rent or possibly find an investment for him to house hack.  Therefore, I thought I would reach out to the Bigger Pockets community to see if there any near-term opportunities to explore.  Feel free to reach out to me here in the forum.

Thank you

Hi, Andrew.  I am from out-of-state but have some interest in the Grand Rapids area.  We have close friends that live in the area.  I am coming out there in a couple of weeks for a wedding (Oct 11-13).  Let me know if you would be interested in grabbing a drink or coffee to see if there is any common interests to work together.  

David

Investment Info:

Mobile home buy & hold investment in North Wales.

Purchase price: $90,000
Cash invested: $10,000

2 bedroom, 2 bath mobile home

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

This purchase was for parents to live in during retirement. They did not have the money to purchase something on their own.

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

Drive-by in the neighborhood. Had put in an offer for another home that fell through and then this property showed up. It was slightly under market value which motivated us to move forward with it.

How did you finance this deal?

100% cash

How did you add value to the deal?

Redid the kitchen with new cabinets, countertops and flooring. Leveraged relationships with friends to help get the work done and keep costs low.

What was the outcome?

Do far it has been a good investment. I am not making any cash flow on it because my parents live there but all the expenses are covered and the home has appreciated in value over 30% in a just a couple of years.

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

I did work with a Real Estate agent in the area that I have known for over 20 years. He is a ReMax agent and his name is Rick Gisondi.