All Forum Posts by: Eli L. Ku

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $225,000
Cash invested: $46,523
Sale price: $319,900

I keep getting better! Total renovation time was 9 weeks. This is a little bit ago. the stay home order is allowing me to catch up on some social media marketing.

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

A nice size margin

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

It was an estate sell.

How did you finance this deal?

Hardmoney lending

How did you add value to the deal?

Modernized the entire house and took out walls to make it feel even more open. Paint and high class finishes.

Investment Info:

Single-family residence fix & flip investment in Pueblo.

Purchase price: $135,000
Cash invested: $37,000
Sale price: $209,900

Contributors:
JD Gunter

My very first Flip!! I went into this deal with a lot of safety net, but was very proud of how it turned out. The exact amout invested in the properties was $36,869.53 to include lending and agent fees. In this investment I made a profit but gain a lot of exprience that I wil never forget!

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

It smelled like cat and dog poop and was out dated.

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

My agent found it on the MLS. I negotiated the 10k less on list because it was 1 less bed room than it stated on the MLS.

How did you finance this deal?

Hardmoney lender

How did you add value to the deal?

update the kitchen, bathrooms, open concept, and updated lights and appliances.

What was the outcome?

Made 38k in profit

Lessons learned? Challenges?

Manage contractors better, time management, and the inspector side of view

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

Yes I worked with JD Gunter and Rochelle Cozzolino as my agent and go to for information.

is this property still available??

@Jenny Bayless This was great podcast! Zorbing sounds super fun. haha. Next time when you and your husband are in the springs let us know maybe we can some coffee and talk about REI. Thank you for giving your time. Great job on REI!

@Jason D. Thank you for the advice. That smoothed out the edges.

@Jason D.I am getting my feet really wet now diving deep in a deep search for properties. Well my next question is what did your offer look like? Like financing, contingencies, and conditions. Sorry if I am getting to personal just wondering are they already discounted because the property is owned by the government.

There is a HUD home available in my market. I was wondering how much flexibility on purchase price when it comes to a HUD home? Are they difficult when it comes to the process?

Thank you all for the advice. I will be asking my lenders

I am wondering how long is an appraisal good for??