All Forum Posts by: Dw Harris

Greetings all,

Quick question if you all have time to answer. I just got off a call with a realtor about a distressed property. They are selling the property for $79,550 3bd 2ba 1350 Sqft. She told me the sellers are willing to negotiate any price I am willing to submit. I calculated in that neighborhood an ARV of $198,617 for that size home. The price point I was considering was $66,617+$100K for reno+$5K for assignment fee. Is this a good price point? If this were your deal, how would you structure it? Also, she asked if I could submit an offer, and will the offer be the purchase agreement?

I really appreciate your advice. I think we need to spend more time making the property unique by telling the story. Thanks for the advice, because that was something I spent the least time working on.

I want to find someone or a company that can help to rent time-shares. And I need help in increasing tenants in an AIRBNB that we own. If possible, I would like to have both managed successfully. So, if anyone has any info that would be helpful. 

Also, right now I am looking for a tenant for the Polo towers Nov 22nd- 25th 3 nights for only $200 if any takers

Investment Info:

Single-family residence buy & hold investment in San Antonio.

Purchase price: $180,000
Cash invested: $5,000

We own an AIRBNB that we try to rent out every week. I want to increase sales with the AIRBNB by bringing in more tenants. Also, we own a Time-Share that we are trying to rent out every month as well. I would like to increase the tenants for both real estate ventures.

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

The secondary income was our motivator.

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

We found the deal by hearing stories from other investors.

How did you finance this deal?

We used a mortgage loan to finance the deal in conjunction with the VA lending.

How did you add value to the deal?

We added value by finding ways to get creative to save money on monthly expenses.

What was the outcome?

The outcome has been decent, but it could be better.

Lessons learned? Challenges?

The biggest lesson was patience before acting on an opportunity.

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

yes, Veterans United and PennyMac are both good lenders