All Forum Posts by: Sheri Fluellen

we've used Anderson Advisors for over 5 years.  They specialize in real estate investors and have a whole team of CPAs, financial advisors, attorneys, etc.  Tons of free educational resources too!  They can help in any state, although their offices are in Seattle and Vegas.

Great job!! I haven't seen a HUD home on the market here in Cheyenne for a while that was priced well enough to make money on a flip. We've been creating leads off market.

I am having a conversation today with an investor about partnering with him on a medium sized apartment complex development. His value is the money and building knowledge (he’s a GC in the neighboring state) and my value is being local to the project (he’s 2 hours away), having all the connections and knowledge of our local market, contractors, city officials, etc. Also having property management for when we are done and we rent out the units. Ive never negotiated a partner deal before. What advice and suggestions do you have for me when I have the conversation? Especially around how to split the deal financially with profits, etc?

@Kenny Robbins

I have only been in the STR game for about 5 months. I live in Wyoming and it's not a touristy town expect for 2 weeks a year. I've experienced about a 80% increase in rental income from the two properties we flipped from long term into short term rentals. I'd suggest you spent a bit of time looking at rents in a specific market and then analyzing the Airbnb rates. Long term gives you a back up plan too if things shift for some reason.

Love hoarding!! 🤣🤣 Actually worked with a serious case as a Psychologist a few years back! We’ve reinvested all our profits as well. How do you like your storage units compared to houses? I hear they’re a good steady investment. With so many storages places around, do you find you have to advertise to keep your vacancy rates low? 

Hey!! I'm an Investor, an Agent, a High Performance Coach & Psychologist. This year, my husband and I have huge goals to explode our real estate work (investing and traditional buy/sell). We have a real estate team with eXp in Wyoming which has been growing for a couple years. We are expanding our investments to acquire or flip over 24 units this year. We are currently working on 4 projects, which is 3 more than we've ever done at one time. We have millions in equity so we, for the first time, are leveraging that for some lines of credit so we can buy homes for "cash" and do the BRRRR strategy on them (with a few that we'll probably flip). I'd love to hear the financial and acquisition strategies for those of you that decided to seriously ramp up your investing pace!!

I'm in the middle of my first BRRRR. Super excited! We have 27 units and are looking at doubling that this year. Just wanting to share the excitement!!

Investment Info:

Single-family residence other investment.

Purchase price: $70,000
Cash invested: $70,000

Purchased this dilapidated small rural home on 8 acres. We are in the process of rehabbing it to execute the BRRRR strategy.

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

It was a pretty cheap deal I found on the MLS.

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

Found it on the MLS.

How did you finance this deal?

Used money from a HELOC on our personal residence.

How did you add value to the deal?

We are gutting the home and rehabbing it. We cleaned up all the trash on the property. We're improving the outbuildings.

What was the outcome?

We aren't done with this yet. Should be done by May.

Lessons learned? Challenges?

We sat on this a couple months before we ended up deciding to rehab it verses demoing it. Should have made that decision faster.

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

My husband and I are both agents and we negotiated and purchase the property ourselves.