All Forum Posts by: David Oldenburg

Investment Info:

Single-family residence fix & flip investment in Merced.

Purchase price: $170,000
Cash invested: $6,000
Sale price: $350,000

$160,000 profit after all expenses in just 2 weeks! This was a great wholetail fast flip and I will be speaking about this deal in my September 10th live event at RosevilleMeetup.com.

This deal was referred to me by someone in my REI group. It was an almost 3 hour drive each way from my own house, so I was really reluctant to do the deal. I drove down and saw the home and it needed a lot of work. I also met the seller for the first time and he wanted $225K for the home. The truth is that I really did not want to flip this house because of the distance, but decided to make the seller a really low offer so I could wholetail it. I offered $170K and 2 days later he accepted.

We rented a 40-yard dumpster and filled it with debris and furniture that was left in the home. The flooring was already removed as there had been pets going to the bathroom and the urine smell was strong. We cleaned the concrete floors with dawn and water and a stiff push broom for scrubbing. We then used a shop vac to remove all of the dirty water off the floor. We then used hydrogen peroxide sprayed on the floor (This stuff is cheap at Target!). We then bought a $99 Ozone Generator on Amazon and ran it for a few days in the house. Lastly, we painted the concrete floors with KILZ stain and odor blocker. This left the floors white and looking ready for new flooring.

We also patched a few holes in the walls and cleaned the house up as well as possible and listed a little over a week later. I made the decision to list at $299K, but multiple offers pushed it to $350K .

This was a home run at $160K profit and just 2 weeks of ownership! I do a lot of flipping and wholesaling and it is my biggest profit fast flip.

How did you finance this deal?

Paid Cash

(New 500 Capacity Location!) 

(Free Event) I just made $160,000 profit on a fast flip in only 10 days. So many people have asked me why I flipped this home, 3 hours away from Sacramento and in a totally different market! RSVP CLICK HERE!

Join me at the Rocklin Event Center, with 500+ capacity and a big stage, as I give an incredible training on the art of finding, rehabbing, and making insane money in the area of real estate wholetailing and fast flipping! There really is an art and a real strategy to doing this right. RSVP CLICK HERE!

I'm also going to talk about my favorite negotiation strategies that have allowed me to sell my last 4 flips almost $200K over list price and yield even more money!

I know a lot of people have been standing in the back of the room at Whitney, as we are almost always going over fire capacity, but now we have a really big room for this event... so be sure to make it and bring as many people as you want! This is going to be an amazing event to network and meet those people who can take your flipping and investing business to the next level! Plus it's FREE!

David Oldenburg
Leader / Founder
Roseville Real Estate Investing Group.

I'm in my first flip in Merced right now. I live almost 3 hours north above Sacramento, so it's been a long drive to work.

I have no desire to flip this far away but got a great deal on this home.

I spent a lot of time researching the comps and marketing time before I purchased.  The market is a little slower than Sacramento, but homes priced right sell fast.

RosevilleMeetup.com Surplus Funds is an incredible real estate investing strategy! You can easily make $10K to $50K or more per deal and do multiple deals per month! You can do this even if you have no money! We have never spoken together on this topic and this will likely be the last time we do it for FREE! For More Info & To Join The Roseville REI Group For FREE... CLICK HERE! Please more below under the event pic...

I want to start by saying thank you to the above fire capacity crowd (over 150 people) we had for our January meeting! This is a topic that every single person in the group needs to know. You can use this strategy full-time or use it along with flipping and wholesaling.

We are going to explain the strategy, explain how to find these deals, how to put these deals together, and we are going to cover 4 closed deals and show you exactly how they were done! Do Not Miss This Meeting and bring a friend! This will be the last time I speak at Whitney for free until November!!

David Oldenburg
Leader / Founder
Roseville Real Estate Investing Group.

I have this dilemma. I am very experienced in flipping and wholetailing and I want to do more loaning of my capital to other flippers in my area (something I have done many times).  The main reason I don't loan my own capital is the fear of not having capital when that great deal comes along! 

I am trying to find a private or hard money lender who will extend a very short-term loan with low points, like maybe 1 point for a 30 day or less loan at say 10% to 12% interest. I already have friends who know me and will do 10% and 2 points. Yes, I realize lenders make their money short-term on points, as I also loan my own capital. I am open to LTV's etc... In other words, I am not asking for 100% financing and the properties that I buy are way under market. The last deal I closed and made $50K in 2 weeks, was purchased cash by me for $140K under ARV.

Feel free to reach out here or private message me. I am not looking for a traditional HML who has lots of guidelines and takes 10 days to do a deal. I am talking about someone who knows what they are doing and can fund in a few days, the way I do when I loan my own money.

Update: This property SOLD on 01/11/2019 for $315,000. If you are a buyer in the Sacramento or Placer County area and want to be on my list, please private message me.

@Carson Wilcox  I got your message and sent a reply on this property!

This is a great opportunity on a 4/2 1556 sq ft fixer in a very nice neighborhood.  It needs a complete interior remodel, meaning new kitchen, bathrooms, flooring, paint, doors etc... I am also a very experienced flipper.  My cost would be $40,000 if I flipped it... and I can break down exactly how I would do it for $40,000, including my suppliers etc...

The roof, HVAC and dual-pane windows are 7 years old and the home appears to have little to no dryrot. I am inlcuding pics below. It was just listed on MLS, but many of those buyers tend to not be serious. I am seeking an all cash or similar offer with a fast close.

I do have a private lender who will finance it at 12/3, but that may be somewhat negotiable, or lower rates if you have a larger down payment.  I bought this in probate from the family. There was a death of natural causes over 2 years ago on the property. 

Feel free to respond and ask me any questions or private message me.

David Oldenburg

RE/Broker

License 01131887

@Paul Graves  Hi, this is Whitney Oaks Golf Club, so there is no gate or guard shack!  You can park in the parking lot and come right into the event.  If you are able to make it, be sure to come up and meet me after I get done speaking.

David Oldenburg

@Account Closed  I don't disagree that it makes sense to sometimes pay for a mentor or education.  I teach virtually everything you can learn in a course for free in my meetings, but most people do not live in my area.  I also believe that you need to be "hands on" to learn.  

Over the summer I did a group flip with my 1,450 member group and I taught people in the home, hands on, how to do the work and make the crucial decisions in a flip.  There were a lot of people who said it was the first time they ever "got it" and finally felt comfortable taking on a flip on their own.  I did this for free, but made a quick $50,000 profit when I sold the home. 

For some a mentor is going to be their best way to learn and build confidence.  If they have the money and want to pay someone for their knowledge, I see nothing wrong with it.  I am asked all the time to speak about wholesaling and flipping, and I too may someday offer more for a price.  Good luck!