All Forum Posts by: DuRon Netsell

Rapheal,

Welcome to BP. I am a rehabber moving to KC next week. I'll be looking forward to taking a look at any wholesale deals you may have.

There is a KC BP meetup on April 15 that I'll be attending for the first time. Check it out on meetup.com

DuRon

Not too bad, eh?

Duncan,

If repositioning multifamilies is what you would like to do, go find a company that does exactly that! Go on zillow find some properties that look as if they've recently been remodeled and contact the company or owners. Call the listing agent, property management company, check tax records, etc to find who owns the property. Contact them, tell them your a bright, young man with a college degree looking to learn the business and are willing to trade some time and work for knowledge. More than likely this can develop into a job, mentorship, or even a partnership! Good Luck!

Thanks again guys. It means a lot to me. I actually put this house under contract for full asking price this morning! It was on the market for a little under 3 weeks.

I am still trying to figure out a way to transfer my excel spreadsheet to this post to show my rehab costs. I did the majority of the work my self, so my numbers are probably very low compared to most rehabs.

@Brandon Turner I learned so many lessons on this house. I was my own RE agent, General contractor, and property manager. I think the most important lesson I learned, which many people had told me on this site, is if your trying to build a business, you must work ON your business and not IN your business. This house took me much longer than I expected. Mostly because I did the work my self and often had to learn something from YouTube right before doing it. I now know that if I would like to create a business rehabbing properties, I must focus my time and energy on creating systems, building my team, and putting the pieces together. Since this was my first property and I had no prior construction experience as well as very limited funds, I was happy to do the work my self and in the mean time learned a ton about construction and scheduling.

@Joan Dickie I could not have done this without my roommates. While they lived with me, I was living for free as well as positively cash flowing a little each month. This allowed me to spend most of time working on the house and learning as opposed to having to work a full time job and be worried about covering bills. Of course, there were times where they were a little tired of constantly living in a construction zone but they were happy to be living in a large house cheaper than any place they could have rented.

@Joshua McGinnis I am planning my next one. I will be moving to Kansas City and doing the same thing all over again! I am thinking a duplex this time though and holding for the long term.

Account Closed I think had I not been living in it and subbed everything out, I could have had this project done in about 6 weeks. Had I not lived in it and still done most of the work myself, I would think probably about 6 months. Like I had mentioned, I had very little construction experience and had to learn how to do everything for the first time while doing the work.

Thank you guys!

I am having trouble copying/pasting my excel spreadsheet into this reply. When I copy and paste it won't show my second column and is in huge font regardless of the font size on the spreadsheet.

Any suggestions?

Hi BP,

I just wanted to show off my first completed rehab project. This was a HUD foreclosure that I purchased for $62.5k. I have lived in this house for a little over a year along with some of my good friends who paid rent while I fixed the place up myself. Total rehab was $23k and it is currently on the market for $122k. I have already received some strong offers and expect to be under contract by the end of the week.

I, too, wish I had taken before/after from the same angle but never thought about it when I was initially inspecting the property.

Thanks for looking!

Before

After

I'd like to give a big thanks to everyone on this site. This place is absolutely one of my favorite sites on the web as so much of what I know has come from this site. I would have never had the courage to take on this first property without the knowledge I've gained through BP. @Joshua Dorkin

I am doing some work for an asset management company and they are looking to update the website for one of their apartment buildings. Does any have any recommendations of a company that provides good looking, easy to use templates for large apartment buildings?

Thank you,

DuRon

Welcome to BP Sandy. As you can tell this site is incredible and jam packed witn information.

We have local RIEA meeting once a month in Columbia. The next meeting is August 7th at the Shakespeare's on the SW side of town. Look up Mid Mo PREIMA on meetup.com for more information.

Hope to see you there

DuRon

I am saddened to hear this. Growing up in Springfield, MO, John Q was an idol to me. My family often joked that Springfield should change its name to something in regards to Hammons. His legacy will continue to live on for generations with his significant contributions to the town and through the people he inspired.I was fortunate enough to meet him a few years ago and he inspired me deeply. A large reason why I have become so passionate about real estate is because of the opportunity it allows to give back the community. He did this as well as anyone and made Springfield what it is today.

Bill, If you have any other John Q stories, I would love to read about them.

Thank you for the replies. The answer seemed quite obvious almost immediately after posting.

In my town, almost every trade will give free estimates. When I purchased my foreclosure I got 2-3 estimates for electrical, plumbing, and HVAC even before I was under contract. It is a great way to network and absorb knowledge

I am meeting with seller and 2 foundation companies on Saturday. I will keep you guys posted and will share my experience and lessons learned

Thanks again