All Forum Posts by: Gabe Ulrich Jr.

@Jaysen Medhurst 3.5 out of 5 house just needs a roof and maybe new windows in the future

Taxes are 1400 a year 550. A month for rent for each side the sev is 49500 connected to city water service and gas they are asking 70k is this a good buy ? House is in fairly good condition

 Hello everybody just finished my first flip and closing and made 30k but I still need to pay taxes so after that what would be the next step !  To invest that 30k wisely so I can make another 30k either in rentals or flipping 

I have 3 lake side properties I am going to make an offer on Saturday but I need to run the numbers they will be flips is there a special form to fill out so I know I can come out ahead. the average house sells between 200k and 600k and I have 3 properties 2 with houses one with just a basement and needs a house for 275k for all 3 and the guy wants to move to florida and he wants them gone yesterday so he said he is highly negotiable !!!!!I just want to make sure all my ducks are in a row

Investment Info:

Single-family residence fix & flip investment in Delton.

Purchase price: $20,000
Cash invested: $45,000

SINGLE FAMILY FIX AND FLIP 1007SQFT 3BED 1 BATH TOTAL REMODEL PLUMBING ELETRICAl HVAC ROOF DRYWALL PAINT WINDOWS DOORS TRIM NEW KITCHEN BATHROOM FLOORING

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

cant pass on a opportunity!!

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

it was sitting empty for 1 month and I had always said I would buy it when the opportunity arose.

How did you finance this deal?

cash from a local invester

How did you add value to the deal?

I could fix the investors problem they needed someone to do all of the work all they wanted to-do was invest and get out of the hands on aspect of it and just push money and make there money more money

What was the outcome?

still working out about 2 months away till we can sell it

Lessons learned? Challenges?

flips and total guts are way harder then they look but don't be discouraged keep pushing

Investment Info:

Single-family residence fix & flip investment in Delton.

Purchase price: $20,000
Cash invested: $20,000

Still fixing and working hard
7 days a week on this fixer upper

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

To build money to buy more properties on my own

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

I saw it empty found out who owned it and it ended up being an 80 year old woman that had renters in it for 30 years and never updated it or touched it and it was in shambles and picked knee high in trash when I first walked in it and i offered her 20,000 and she accepted

How did you finance this deal?

I have a hard money lender that takes 10% of profit and 10% of the materials put into the property

How did you add value to the deal?

I was the branz and the brain and the hard money lender was the money

What was the outcome?

Well in the middle of flipping It and working on it 7 days a week

Lessons learned? Challenges?

Totally gutting a house is very hard to do lots of tedious work pulling drywall nails!

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

Nope