All Forum Posts by: David Thompson

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $170,000
Cash invested: $205,000

Purchased 12 units (three quads) for $170,000 rehabbed for $205,000. Appraised for $550,000 and was able to get all our cash out to move into the next deal!

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

low unit cost in a C area

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

Property manager brought me the deal.

How did you finance this deal?

hard money- 90% purchase and 100% rehab

Had to but 150K into the deal with down Payment and going 80k over budget.

How did you add value to the deal?

Full Rehab

What was the outcome?

Cash out Refi, got out 172k (initial investment plus 33k)
Rented out all units for 3,300 per month cash flow 40% ROI

Lessons learned? Challenges?

Better due diligence & Better contractors

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

Asher House Renovations (GC)
Ashley Collins (broker)

Did you find any information? I have spoke to them as well and have an odd feeling about them 

@Luke J Nelsen STRs? I'm not familiar with that acronym

@Hud Floyd

Hi Hud!!

I'm a fire fighter/Emt from north Arkansas!! Been investing for 4 years around the country! Always looking to connect to like minded investors!!

I would recommend Buying a home or condo for Nightly rental! They cash flow really well in Branson and there is high demand for vacation lodging! 

I would Hold this property as long as it still cash flowed after a Refi 

Investment Info:

Other buy & hold investment.

Purchase price: $105,000
Cash invested: $10,000

3 bed 3 bath condo that we purchased with money refinanced out of the 2 bed condo. We used 10k of our own money to furnish and remodel the property to list on Airbnb!

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

MLS

How did you finance this deal?

pulled money out of another condo

Investment Info:

Other buy & hold investment.

Purchase price: $86,000
Cash invested: $1

This was my first Condo to buy for nightly rental! I used 2 vehicles I owned as collateral for the down payment. After the first year I refinanced the condo to get my titles back from the bank and pulled enough money out to buy a Larger 3 bed Condo.

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

MLS

How did you add value to the deal?

The property came fully furnished. The Couple that owned it before me used as a vacation home. All we did was add a few decorations and update the bedding and listed it to airbnb!

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $120,000
Cash invested: $1

Refinanced property to purchase this 4 plex with a house on the adjacent lot

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $60,000
Cash invested: $14,000

2 Bed 1 Bath Duplex