All Forum Posts by: Hunter McBryde

That is awesome David!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $64,500
Cash invested: $15,000

We wanted to expand our portfolio so we managed to find another buy and hold cash flowing investment in York, PA. This is a 3 bed 1 bath single family home. We did not have to do very much before getting a tenant in.

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

We wanted to add to our portfolio. This house fit the criteria and we decided to jump at the deal.

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

We contacted our agent, Brittany Dalton, and organised some inspections. Our agent and my property manger (also a personal friend) inspected a number of properties, but this one stood out from the rest.

How did you finance this deal?

We had some of our own cash, we also borrowed a bit from friends and family and we got a hard money loan to cover the rest. We are planning on refinancing out of the hard money loan shortly and repaying all other small loans with the equity built up.

How did you add value to the deal?

We did some small things to the house before the tenant moved in. But we bought in a good position that should see some natural capital growth over the next few years. The real value was finding a great tenant very early on.

What was the outcome?

We will continue to hold this house for the foreseeable future. We want to continue to build our cash flow up to begin funding some flips in the near future.

Lessons learned? Challenges?

This purchase went much smoother because we learned a lot from the last purchase. Our team really worked well and it was a smooth process overall.

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

Yes, I worked with Brittany Dalton again and she was a dream to deal with. Particularly considering we are investing from Queensland, Australia in the US.

Thank you @Dmitriy Fomichenko!

Investment Info:

Single-family residence buy & hold investment in York.

Purchase price: $34,000
Cash invested: $4,000

We bought this 5 bed 1 bath home as a cash-flowing rental. We bought it below list price in 2019 and put a little bit of cash into it to get it to where it needed to be to be rented. It has more than doubled in value since we bought it. Plus we have had great tenants in there for the last 2 years paying $900.00 per month.

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

My wife and I wanted a cash flowing asset to pay my US student loans so that we did not have to transfer money from our home in Australia. We were on the look out for a property that would fit that criteria.

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

We looked at a number of deals on the MLS before we travelled to the US on a family trip. We managed to contact an agent that we really gelled with and understood our goals. She helped us line up some inspections while we were in the US. This was one of them. We made an offer for $5,000 off the list price and the seller just wanted out.

How did you finance this deal?

We paid cash for this deal.

How did you add value to the deal?

We fixed up some issues in the house after we bought it which raised the value slightly. But the real value add has been the recent property market.

What was the outcome?

We still own it as a cash flowing asset. We do want to tap into the equity of the property to purchase more single family residences in the area.

Lessons learned? Challenges?

We learned that it is so important to have a team that you trust on the ground. Living 10,000 miles away forces you to use a team. Get references for any trades used!

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

Yes! We worked with Brittany Dalton, who is an absolute legend in the area!

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Lancaster.

Purchase price: $391,549
Cash invested: $27,000
Sale price: $609,286

Live-in-Flip in Queensland, Australia, recently sold.

We bought at a great price, and a great location. 30 mins from the beach, 1 hour from a major city, a great house at the end of a cul-de-sac with great potential to add value. We did about $50,000.00 worth of rehab to the property.

The biggest value-add component was converted the large shed to a secondary dwelling. This was a long process but well worth it in the end!

We undertook this project as a joint venture with family.

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

My wife and I had been renting the property for 3 years. We knew the owners were selling their other properties and we made them an offer. We knew we would be able to add more value to the property through strategic rehabs.

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

I called the owners (who were our landlords at the time) and made an offer. It was below market value but it meant they could sell it easily to people who would love the property without involving an agent.

How did you finance this deal?

My wife and I got the mortgage in our name. My in-laws put 20% down and we shared the cost of the rehab. We undertook this project like a joint venture. My wife and I qualified for first home buyer subsidies which significantly reduced our closing costs. I was able to negotiate a deal below market value and our in-laws were able to provide the capital we did not have available.

How did you add value to the deal?

We converted the large shed into a secondary dwelling/granny flat. This added the most value to the property. We also strategically rehabbed parts of the main house. This was done so that we could focus on the areas that needed some TLC while not over-investing our capital.

What was the outcome?

We sold in an incredibly hot market and were offered $80,000.00 above our list price within the first week of it being on the market.

Lessons learned? Challenges?

The 2 biggest challenges were the secondary dwelling certification and the buyers. The certification process was much more involved than what I expected. We fell through the cracks with private certifiers we engaged. This meant that we were told for months that the certification process was underway, but a week before we listed the property, a site inspection reveled otherwise. The buyers were not easy-going and made the entire process very painful.

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

Yes, we worked with Dan Clarke whose team specialises in the Beerwah, Glasshouse Mountains region. He was an absolute gun and I could not recommend him highly enough.

Hi Miguel, we have a single family in York, PA. We live in Queensland, Australia so we have made sure to get an amazing property manager. Are you looking for another single family? Feel free to message me privately as well.