All Forum Posts by: Henry Clements

Wow! That's the million-dollar question! An uncomplicated place would be to hook up with trusted wholesalers. You can find them at your local REIAs. Although some may be offering their deals with little meat on the bone, sometimes they may pay off by saving you some leg work and, in most cases, a somewhat clear title. Still, be prudent to do your due delinquents because there are plenty of scammers out there and, even yet, find better deals next door! 

Once you've completed a flip or two worthy properties, they tend to surface easier as you establish a "bigger pocket" (haha, get it?) to invest. Also, your search strategies tend to get better as you find friendlier markets in your area. Consider finding county foreclosure, tax deed properties, ETC, and if you can partner up to acquire more funds, you may be able to do the full rehab ones easier. On that note, some wholesalers can be found there at the county's foreclose website. Seek the entities of those that seem to be buying everything up, and email them asking for properties they are willing to part with. After all, that's why they buy them!

Good luck!

Congratulations on your find, it looks to have nice bones! Perhaps, consider using some rent gauges, like Zillow, Rentometer ETC., and check the rental comps. Do what it takes. You may be able to increase the rent a bit more in due time.

Good luck Aaron!

• Hello Marlen,

Attached, please find more photos. Perhaps, you'll like the before, and during photos of the property?

Investment Info:

Single-family residence fix & flip investment in Boynton Beach.

Purchase price: $120,000
Cash invested: $160,000
Sale price: $270,000

This 2-bed, 2-bath turnkey unit is a waterfront property. It is a beautifully rehabbed home with tall wood cabinets and granite countertops, from inside new impact windows and doors and newly renovated bathrooms with all new LVP flooring throughout to the outside lush landscaping with lighting and the irrigation system to sustain it.

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

A true diamond in the rough! A structurally sound house with an almost new roof, always a home run for me. Especially when it is the worst looking house in a beautiful gated neighborhood!

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

To approach others with one's ideas for making a profit and having it accepted is a blessing; to be sought out by others as one that can make a profit is divine. I was approached, and I agreed on a sharing profit.

How did you finance this deal?

Through networking and presenting rehab plans to an investor, I successfully forecast a low- budget cost to a worthy project.

How did you add value to the deal?

After the transformation was completed and put on the market, it sold above the list price!

What was the outcome?

COVID19 has contributed to its delay; however, homebuyers experienced a low inventory in this market. Thus inflating prices moved faster than time went by and so prolonging rehabbing was rewarded with a 15% higher figure than originally projected.

Lessons learned? Challenges?

The biggest takeaway for me on this one is how ridiculous HOAs can be for rehab investors regardless of the beauty they bring.

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

I will post my listing agent soon. This property went into contract within the week; postponement did occur because of the higher offers that continued to surface.