All Forum Posts by: David Weskamp

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $75,000
Cash invested: $75,000

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

This property was under contract at much higher price and fell through due to minor foundation issues. Required cash deal. This will rent well and plan to repair foundation in spring. Depending on if I find a solid long term rental, I might flip.

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

When the house price dropped due to foundation issues and bank would not loan on it. Did some research and spoke with the contractor on cost estimates for foundation work, it still penciled out very well.

How did you finance this deal?

Cash

How did you add value to the deal?

Foundation work will be completed in the spring.

What was the outcome?

Keep you posted

Lessons learned? Challenges?

Keep you posted

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

Yes on real estate agent and contractor for foundation estimate

I am planning to attend. Thanks for hosting. 

David Weskamp

Hi Meghan,

Thanks for hosting the meet up. I have the date on my calendar and planning to attend. I live in Picabo, just outside of Hailey in the Wood River Valley. Look forward to meeting some new investor folks. I am fairly new to the real estate investing. I own a few properties, but they are more of a liability than an asset. I would like to move into asset column. I have currently been looking at real estate in East Idaho (Pocatello, Idaho Falls, and Rexburg area). I am  also interested in Twin Falls and  networking with local BP members.

Look forward to meeting everyone.

Thanks,

Dave Weskamp