All Forum Posts by: Dustin McGee

Kyle Kovachik are you still looking for a contractor to perform work? I am available to take a look if you still need someone. If not, please keep my information for future projects. Class C contractor license in VA state. Thanks!

Hello brother, Where are you needing these services? DM me and we can chat! Look forward to hearing from you.

Hello BP!

It has been a while since my last post. I have been a BP member for over a year now and been through my ups and downs with some personal issues. 

As some of you know I own a pyrotechnics display company. My teams have been killing it! 

Running a company can take a lot of time away from other things I want to do (AKA real estate investing). With my display company growing month by month I am slowly able to pull myself out of driver seat and let my teams run it. With that being said I am slowly working my way to getting my feet wet in REI.

My plans for this year is to build my credit back up (Divorced this year) and continue to soak up information that will help me in the future of REI.

The biggest thing I am learning, with anything, is as much as you read, listen to podcast, study, or run numbers. You will never think you are ready to start investing. The best thing to do is to just do it! No, Nike isn't paying me to say that!   

There is a good reason for that slogan though. If you don't just do it, you probably never will. You can only prepare so much until "preparing" turns into procrastination. 

So I am publicly announcing my goals. 

First step: Get credit back up there!

Step two: Have some kind of real estate purchased by March of 2017!

I will continue to post here on BP. I want to teach people and help people.  

Thanks for reading this!

Dustin 

@Antonio Samperi and @Michael Japuncic  I am doing all the work myself and planned to do all of the proper permitting, zoning, etc. I am experienced in building, plumbing, electrical, etc so that is why the price is so low for adding the room. The material is the $7,000-$10,000 and of course my time being there building it out is worth something but I will get paid when I sell the deal. 

Thanks for the input guys! 

Hey everyone!

Just putting this deal out there on the thread to get as much feedback as possible.

We found a 2 bedroom 1 bath house for $60,000 and the owner is going to finance provided we pay the $3,500 down payment. The property is ready to rent as is but I have a better plan.

It has two living rooms and I was thinking about throwing up a wall in the one living room and making it a master bedroom with a master bath as well. This wouldn't cost much to do, I'm estimating $7,000-$10,000 to turn this into a beautiful 3 bedroom 2 baths house.

3 bed 1 bath houses are selling for $115,000-$125,000 in the same area so I'd imagine 2 bath would put us well above the others.

Any feedback or questions on this one would be great.  

Once I get the project rolling, I'll post progess pictures!

 Hey guys,

I am really motivated to jumping in on my first deal!

I can find the deals but I am having problems getting funding for the deals with not so good credit. I am rebuilding my credit but it is going to take a year or so to get it good enough.

I know there are other methods of getting funding and I have tried most of them and still trying every day. I am looking for a partner to help me fund my first deal and maybe more deals in the future if we enjoy working together.

I am tired of starring good opportunities in the face and not being able to jump on them!

Anyone out there want to help me out?

Thanks everyone!

I have the opportunity to purchases a duplex for 50k that needs another 20k of rehab. I am going to do most of the rehab work by myself and my team which it should only take 2 months to complete. My goal is to rent it section 8 which is going for $750-$800 in the area. I am looking for a partner to purchase the property with me and fund some of the rehab. 

I have gotten the rehab quotes from contractors so the budget is higher compared to me doing the work by myself.

I don't want to see this property float away. I am willing to negotiate the terms and percentages, I am open to ideas.   

Let me know if anyone is interested.

Thanks everyone!

@Narmina G.[email protected]

Hello all,

I am in need of funding asap. I put a duplex under contract with a hard money lender that would finance the project but they ended up not working out for the deal. 

Here are the details:

Purchase Price: $50,000

Rehab budget: $18,000

ARV: $120,000

Rents Per Door: $700

Time Project Will Take: 3 Months 

I am wanting to buy and hold because the area is more of a renters market. I am in an inspection period on the property with the seller being very easy to work with. 

My thoughts are to get private money or hard money. If I get hard money I would get the duplex refinanced to pay off the hard money lender. Zillow and Trulia estimate the property to be worth $125,000 but I am going to get a appraiser out there to get a hard number. The rehab budget is based on contractor quotes.

Please send me and email at [email protected] or call/text me at (540) 247-9903.

Thanks guys!    

I am looking for a hard money lender do to a deal here in Virginia. Can anyone recommend a lender. It's a duplex that needs some minor work. I can have it turned over in no more than 3 months (at max). Buying price is $58,000, needs 20k worth of work. ARV is 140-150k or rent each unit for 850 a month.

PM me if anyone is intersted. I am wanting to jump on this fast, I can send more detailed info and pictures to who ever is intersted.

My email is [email protected].

I look forward to hearing from you!