All Forum Posts by: Derek Wilke

Quote from @Daryna Misechko:

Hello, my name is Daryna and I am a sophomore in high school and I have been interested in real estate for a very long time. I have been reading books about it, listening to podcasts etc. I am planning to get my license as soon as I turn 18 and I was wondering if there is any way I can get involved in real estate while being under 18 and with no license but I also want to get paid?

 Daryna, That is awesome that you found this community in High School. Good Luck on your Journey. 

Quote from @Jaycee Greene:

Quote from @Derek Wilke:

Investment Info:

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

Purchase price: $210,000
Cash invested: $35,000

Triplex 3- 1bed 1 bath
Completely Renovated
Shared Utilities

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

We own one other Triplex that Cashflows really well, but it is a fixer upper.
This property has been flipped, and rent exceeded the one percent rule. I wish there were a hundred of these on the market. I would buy them all.

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

Called a realtor about a different multi-family home. She had that one under contract but wanted to make sure that w saw this one.

How did you finance this deal?

20% down, Financed the rest for 20 years @7.45%

 Hey @Derek Wilke! Property looks great. How much did you spend on rehab and what was the ARV?

I actually bought a flip. 

I did none of the work, and hopefully won't have to for a long time. 

Investment Info:

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

Purchase price: $210,000
Cash invested: $35,000

Triplex 3- 1bed 1 bath
Completely Renovated
Shared Utilities

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

We own one other Triplex that Cashflows really well, but it is a fixer upper.
This property has been flipped, and rent exceeded the one percent rule. I wish there were a hundred of these on the market. I would buy them all.

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

Called a realtor about a different multi-family home. She had that one under contract but wanted to make sure that w saw this one.

How did you finance this deal?

20% down, Financed the rest for 20 years @7.45%

Quote from @River Sava:

Quote from @Derek Wilke:

Quote from @River Sava:

Hey Derek - Welcome to BP and happy to connect with you. 

Were these turnkey purchases or did you do any rehab?

Hi River, 
Nothing major. Little paint and the contractor I found let me buy the material and only charged me labor. Faux wood floors, new blinds. No CAPX projects. The triplex we bought was fully occupied so we did 1 unit at a time as they moved out.
0 Vote

 That's great - Are you going to continue with cosmetic rehabs or dive into something that needs a little mjore TLC?

I would say that if I found a deal that made sense, I could definitely see doing that. 

Quote from @River Sava:

Hey Derek - Welcome to BP and happy to connect with you. 

Were these turnkey purchases or did you do any rehab?

Hi River, 
Nothing major. Little paint and the contractor I found let me buy the material and only charged me labor. Faux wood floors, new blinds. No CAPX projects. The triplex we bought was fully occupied so we did 1 unit at a time as they moved out.
0 Vote

Hi River, 

Nothing major. Little paint and the contractor I found let me buy the material and only charged me labor.  Faux wood floors, new blinds. No CAPX projects. The triplex we bought was fully occupied so we did 1 unit at a time as they moved out.

Hello Everyone,

I am joining Bigger Pockets today seeking professional connections. I want to learn about you and your area of expertise. In the Last 6 months, I have purchased my first 2 properties and my first 4 doors. I am hoping that by joining Bigger Pockets, I will meet many like minded individuals seeking financial freedom, for rental cashflow.