All Forum Posts by: Jason Arcuri

Investment Info:

Single-family residence other investment.

Purchase price: $135,000
Cash invested: $40,000

Bought a single family in Naugatuck with the intention of renting it out. After a few weeks of trying and tenants not liking the narrow stairway, we found a buyer for the property. We are selling it for 200,000 once we get past the 90 day rule.

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

Love nearly any investment in Naugatuck if the numbers work. It's our primary spot.

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

Wholesaler who had picked it up for 90k

How did you finance this deal?

We took out an investor mortgage on it.

What was the outcome?

Waiting to sell it

Lessons learned? Challenges?

Pretty straight forward on this one. Went under contract sight unseen and knew we wanted it.

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

Myself ;)

Investment Info:

Small multi-family (2-4 units) buy & hold investment in West Haven.

Purchase price: $90,000
Cash invested: $100,000
Sale price: $135,000

Bought a 2 family that overlooks the ocean in West Haven. Needs full renovation and going to try and airbnb the second floor.
UPDATE: Sold this due to another purchase after fully gutting it. Made a quick few bucks and the new owner decided to rip it down and build from scratch

 I think it was around 6 months. Ya the numbers were absolutely killer.  We had no intent on flipping it.  It was going to be a good brrr with an arv around 150k but once the market took off we decided to put more into it and make a bigger profit.
This was one of the better step in it deals we've had but we have a few others that are crazy numbers too.  I just haven't had a chance to post them all.  

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $25,000
Cash invested: $5,000
Sale price: $96,000

Single tiny crappy house that I bought to rent out

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

The numbers looked great.

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

Client of mine wanted to offload it due to crappy tenants.

How did you finance this deal?

She financed 20k out of the 25k with zero percent interest.

How did you add value to the deal?

Kicked the tenant out and updated the building

What was the outcome?

ended up getting numerous bad tenants and sold after a few years for a good profit.

Lessons learned? Challenges?

Will buy in any area but the numbers really have to be extraordinary to make up for the worse areas.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000
Cash invested: $150,000
Sale price: $317,000

Flip gone wrong.

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

Had flipped a few homes in the area prior and turned out great.

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

Short sale listed on MLS

How did you finance this deal?

Hard money

How did you add value to the deal?

Complete renovation, moving walls, upgrading bathrooms

What was the outcome?

Lost about 40k on the deal

Lessons learned? Challenges?

A messed up retaining wall in the yard can kill all value. We flipped a home directly across the street that was smaller and not as nicely done and ended up having to sell this one at the same price to get out of it. Hindsight, wish we stopped lowering the price and just rented it instead.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $65,000
Cash invested: $150,000
Sale price: $235,000

Single family flip that was originally bought to be a rental. Upon buying it, covid hit and jacked the prices up. Due to the opportunity, we decided to flip it instead and turn a bigger profit

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

Looking for more rental properties in the areas we like being.

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

Hit the MLS and put an offer in

How did you finance this deal?

Hard money

How did you add value to the deal?

Complete renovation top to bottom

What was the outcome?

Great flip that made us great money

Lessons learned? Challenges?

Be careful in the basement. Entire back wall was unsupported and we had to dig it out ourselves to keep the cost down.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $247,000
Cash invested: $15,000

3 Family owner occupied home. My first investment property that I bought at the top of the market in 06. I paid 400 a month to live on the first floor by myself and now I have it fully rented out.

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

Buddy of mine in college taught me a lot about investing and once I had a real job, I knew I wanted to have rentals as my working exit strategy.

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

I had a great realtor at the time.

How did you finance this deal?

FHA

How did you add value to the deal?

Longevity has added a ton of value.

What was the outcome?

Still own and it still making a profit

Lessons learned? Challenges?

Doesn't matter what market you buy in, just some have better value than others. Long term, you just need to be able to handle the bad years and you'll come out way ahead.

Thank you everyone!

So there was a big change in plans on this one, unfortunately.
I absolutely loved this building and knew it would make a killing.  However, I'm now purchasing a big big business and needed to free up capital.  So we had cleaned it out a decent amount and put it up for sale.  We have an accepted purchase price and turned it around for a decent profit.  
I'll keep you posted on that scenario with another post about the business when we get closer to the finish line.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in West Haven.

Purchase price: $90,000
Cash invested: $100,000

Bought a 2 family that overlooks the ocean in West Haven. Needs full renovation and going to try and airbnb the second floor while renting out the first floor to have guaranteed income as this will be the first AirBnB I've tried.

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

Love my rental properties and have wanted to give airbnb a try for a long time. However, none of my properties have been prime location for such a thing.

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

Ads that I pay for to try and list homes.

How did you finance this deal?

Hard money 12% interest 3 points

How did you add value to the deal?

Doing new roof, siding, hvac, just about everything

What was the outcome?

Still working on it

Lessons learned? Challenges?

I undervalued some of the work

Always love networking with new people.  Feel free to reach out if you want to chat