All Forum Posts by: Ethan G Stine

Investment Info:

Single-family residence buy & hold investment in Spring Valley Lake.

Purchase price: $185,000
Cash invested: $30,000

BRRRR

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

Value add, potential cashflow after rehab, and house on golf course.

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

MLS. Negotiated price from 200k to 185k based on rehab costs needed.

How did you finance this deal?

Private money.

How did you add value to the deal?

Total gut remodel : $30,000.00

What was the outcome?

Refinanced at 75% LTV. ARV: 275K Rent: $1900.

Lessons learned? Challenges?

Money is made on the buy. Due diligence is key. It always costs more than you think!

@Tony Huynh

Sounds good!

@Jovan Caballero

Hey Jovan,

I am mostly a buy and hold investor using the BRRRR method. I am currently rehabbing 1 of my 3 rentals to go to market with here soon.

@Tony Huynh I live and invest in Victorville. If you’re going to invest here, make sure you know your neighborhoods and even streets in those neighborhoods well. Would love to share my knowledge on the High Desert with you. Feel free to ask any questions you have.

If it were me I would open a HELOC on it. That way you have the money available to you when you need. So you could open a HELOC and let it sit there until you find a deal worth while!

Thanks everybody for the advice! @John Warren, @Shawn Jetton, @Roy Moses!

Hahaha @Ned Carey, I see what you mean. I have not even closed yet and I have that feeling. 

I am partnering on the deal with someone that has flipped a few houses before so i'm hoping it will be a good learning experience. Just hopefully not an expensive one!

Hi all,

I am about to close on my first ever flip this week. I am just curious, off the top of your head, what was something you wish you knew or you learned on your first flip!

Thank you in advance,

Ethan G Stine

Wow, awesome story! Very motivating for someone like myself. Thanks for sharing @Brandon Schlichter !

Thats awesome, I aspire to do something very similar in the next 5 years!