All Forum Posts by: Ghita Mueller

I should also mention it appraised out at $285,000

Nope.  That rehab number doesn't include financing costs and the state of illinois has crazy high taxes.  The refi was also at 25% equity.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $161,000

Renovating now

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

The price was right

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

mls

How did you finance this deal?

private money lender

How did you add value to the deal?

totally renovating

What was the outcome?

Hope to put it on the market in April

Lessons learned? Challenges?

This is the first home working with my new business partner, Kelley. We're working on our systems still. Also, first time working with a private money lender. That's been an interesting experience!

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

me ;-)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $110,000

Rented for $2195. Mortgage is $1700 . $500 cash flow per month

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

It was my first wholesale deal and I was very curious to see how that all worked (I'm a fan ;-))

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

Through a facebook post

How did you finance this deal?

Cash from an equity line of credit

How did you add value to the deal?

total gut renovation

What was the outcome?

Rented it very quickly

Lessons learned? Challenges?

down draft ranges are way too expensive!

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

Me ;-)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $60,000

Rented it for $2195. Mortgage payment is approx $1800. Cash flow = $400

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

MLS -

How did you finance this deal?

Cash from an equity line

How did you add value to the deal?

Moved kitchen and removed walls

What was the outcome?

Rented pretty quickly

Lessons learned? Challenges?

I personally will try to avoid buying a home under 1000 square feet again.

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

Me. ;-)

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $125,000
Cash invested: $65,000
Sale price: $250,000

Wish I could have held onto it but needed the money to fund future deals

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

Joined a local investment group and got tons of support

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

MLS - I waived my buyer agent commission. I think that helped.

How did you finance this deal?

Got an equity line of credit and borrowed from it to pay cash for the property.

What was the outcome?

Made a decent profit for my first experience

Lessons learned? Challenges?

Pay attention to the details and be organized

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

Me ;-)