All Forum Posts by: Dalton Osmanski

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $135,000
Cash invested: $2,000

This was a BRRRR investment where we fixed up the property and refinanced with the built-in equity. We bought this distressed home for $135K and invested another 70K in renovations and repairs. Once the home was remodeled we found excellent renters who want to own when their lease is up. After waiting 6 months (Fannie & Freddy requirements for refi.) our appraisal came back valuing the home at $265K which meant that we could pay off our hard money loan and get our initial investment of $25K back

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

Long Term Income

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

Found this deal on Zillow first day on the market and had to offer $5K over asking but worth it!

How did you finance this deal?

Hard Money Loan

How did you add value to the deal?

Full interior and exterior

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $135,000
Cash invested: $2,000

This was a BRRRR investment where we renovated the property forcing appreciation on the home and refinanced with the built-in equity we had created. We bought this distressed home for $135K and invested another 70K in renovations and repairs. Once the home was remodeled we found excellent renters who are working on their finances to buy it when their lease was up. After waiting 6 months (Fannie & Freddy requirements for refinance) our appraisal came back valuing the home at $265K which meant that we could pay off our hard money loan and get our initial investment of $25K back. This was the perfect BRRRR as we were able to get our investment back and have 25% equity in the property and while the cash flow isn't incredibly strong having the property and our investment back meant we could go buy another deal!!

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

Long Term Income

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

Found this deal on Zillow first day on the market and had to offer $5K over asking but worth it!

How did you finance this deal?

Hard Money Loan

How did you add value to the deal?

Full interior and exterior

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $99,000
Cash invested: $30,000
Sale price: $165,000

I found this property for sale on Zillow and made the connections fast to make this deal happen. While I didn't make a fortune on the first deal I had enough courage to keep going and kept rolling the profits into the next deals!

How did you finance this deal?

Hard Money

How did you add value to the deal?

Full interior and exterior renovations.

What was the outcome?

Successful flip made about $10K

Lessons learned? Challenges?

Always have 10% reserve for repairs so you always have extra cash for when things don't go right.

Thank you @Edgar Barrera I appreciate the advice!

Hey BP Community,

Container homes are being constructed all over the United States due to their strength and inexpensive conversion which are a few of the reasons why I'm a fan! I found a few prospect locations to build a fourplex in Fort Worth however, I've had a difficult time finding long term financing for the project (Construction financing is covered HML). I've contacted several lenders and no one seems to have any referrals or creative ways to finance them. I've looked through the forms as well and haven't had much luck their either which is why I'm writing this post in hopes that someone can make this project happen.

Thank you for your help!

@Sterling Cox

How were you able to finance the container home?

Did you find any lenders who will finance this project?

I know you're not allowed to use personal loans to fund the down payments on real estate properties  however, are you allowed to use the personal loan to finance the holdings costs and other costs you may incur in the project if it is a fix and flip investment?

Great article thank you for your input! I will be putting bandit signs out and keep you posted on my progress :)

@Matt H. @Christopher Smith @Michael Plaks Thank you all for your advice.