All Forum Posts by: Drew Bartek

 Thanks Scott, this was my second one. Actually bought it back in 2020, just updated it on here for the first time.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $295,000
Cash invested: $5,000

Bought the house and lived it in for 1 year and then turned it into a rental. Renting by the room to maximize cash flow.

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

Bought the house utilizing grants so it was only $5k out of pocket, too good to pass up.

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

Was looking for a house that would work good as a future rental.

How did you finance this deal?

Conventional loan

What was the outcome?

Renting it for $2,600 a month. PITI = $1525

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

I represented myself.

Hello, I'm trying to find a good builder to build out a spec quadplex. Goal is to build it out and rent it. Currently looking at lots in Charlotte. Any recommendations or advice on where to begin the search?

Thanks,

Investment Info:

Single-family residence other investment.

Purchase price: $115,500
Cash invested: $25,000
Sale price: $170,000

Bought a house to live in and flip at the same time. Ended up investing $25,000 into the house bought for $115K and sold for $170K.

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

Wanted to learn

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

My mentor helped me find this deal

How did you finance this deal?

Conventional loan

How did you add value to the deal?

I did some of the work to fix it but mainly outsourced it and bought all of the supplies for the flip.

What was the outcome?

Made about $20,000 after fees and learned a whole lot.

Lessons learned? Challenges?

1. It's best to jump in and not always wait for the perfect deal to come up.
2. Never pay a contractor until work is finished. I had a contractor that already did a lot of work on my property and I was leaving the country for 15 days so I prepaid him $500 to do some more work while I was gone. He did nothing and then ghosted me when I was back in the states.