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All Forum Posts by: Ed Watts

Ed Watts has started 2 posts and replied 5 times.

This was a great show. In brings a human side to this business, and more important to the hosts of this show. When you are looking for an entry into the business for the first time, or a novice looking to level up. Hearing about all the success that people are having, can be intimidating to some. But being able to here that giants of Bigger Pockets have failed  and more importantly overcome these failures and created the success that we inturn come to admire makes for very inspiring content. The sagacious tone of the content I found to be very insightful, and the lighthearted delivery is very efficacious in nature. 

Post: Liberty Heights investment

Ed WattsPosted
  • Flipper/Rehabber
  • Washington, DC
  • Posts 5
  • Votes 2

Investment Info:

Single-family residence fix & flip investment in Gwynn Oak.

Purchase price: $60,000
Cash invested: $60,000
Sale price: $174,000

House was a total rehab.

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

House is located in a area that is changing due to new community developments. This seemed like in opportunity to cash in and profit while contributing to the community positively.

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

Found the deal through a broker, we agreed on a price based on comps of what the ARV of this property would be.

How did you finance this deal?

We finance the deal with hard money and part private capital.

How did you add value to the deal?

Values was added with the renovations of the home. This house was a complete gut job. Many systems in the home had to be upgraded, appliances, and just overall condition. So,emof the before photos show this was not the most slightly of residences.

What was the outcome?

Outcome is that the house was finally sold to a partner in the syndication.

Lessons learned? Challenges?

Estimating repairs was a main lesson learned. The experience in the group helped to have the project completed but remembering to flexible with numbers and not to agresssive makes it easier to deal with the unforeseen costs that lay in the shadows of such a project.

Post: New Member from DC

Ed WattsPosted
  • Flipper/Rehabber
  • Washington, DC
  • Posts 5
  • Votes 2
Originally posted by @Michael Boyer:

welcome Ed .. I'm into small scale landlording, too... Lots of great books on the topic, too. Let me know if you want any good starters...I am more into the practical ones (like a classic Leigh Robinson Landlording type book) ...

many great ones out there...

Best of luck

Sure if you can reccomend some books that would be great.

Post: New Member from DC

Ed WattsPosted
  • Flipper/Rehabber
  • Washington, DC
  • Posts 5
  • Votes 2

That is option I that I would consider. Just want to make sure I make a good decision on the property.

Post: New Member from DC

Ed WattsPosted
  • Flipper/Rehabber
  • Washington, DC
  • Posts 5
  • Votes 2

Hello I am Ed Watts. I am here because I want to be a landlord. My dream is to invest in a 4 unit building and I am hoping I can gain the knowledge and connections in this forum to bring reality to these dreams. I am ready to learn, and look forward to the guidance I am sure a platform like this can bring me.