All Forum Posts by: Jason Baron

Investment Info:

Condo buy & hold investment.

Purchase price: $399,000
Cash invested: $20,000

Stowe vacation short term rental with great location to the mountain and all the town has to offer.

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

We could always use this with a growing family to go skiing

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

My realtor Amanda Bell found this deal for me.

How did you finance this deal?

This was a commercial purchase so 20% down payment 20 yr term with a 5 year balloon.

How did you add value to the deal?

I added a new heat pump AC with two mini split systems.

What was the outcome?

Developing

Lessons learned? Challenges?

All STRs are not cash flowing currently

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

Realtor: Amanda Bell
Banker: Ian Carol

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $480,000
Cash invested: $120,000

Single Family fix n flip with an 900 sq ft one bed ADU. Short term rental approved by the town, fully renovated kitchen, bathroom and living room. ($60k) Newly added heated garage, also new heat/hot water for the house. ($20k) new landscaping including vinyl fence in backyard and driveway ($45k)

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

Purchased with most all upgrades needed. Major forced appreciation potential

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

The deal was found on Zillow with half the ad posted and we were already in the driveway messaging the previous owners

How did you finance this deal?

We purchased with 5% fixed 30 yr term with our trusted banker Mark Severance.

How did you add value to the deal?

Kitchen, bathroom, heat systems, driveway, fence, landscaping

What was the outcome?

The house is still being worked on and may take a few more years to complete.

Lessons learned? Challenges?

The current challenges are that we have had success with medium term renters who were willing to pay a per diem amount of $6,900/mo for 6-9months. After that we decided to try and get a manager to work short term rentals and it has not been anywhere near the income we assumed.

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

Realtor: Amanda Bell
Banker: Mark Severance

Investment Info:

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

Purchase price: $317,000
Cash invested: $60,000

Used BRRRR to add $120k in equity and refinanced $60k

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

This house we found off the market which had immediate upside to raise rents due to research of markets in the area.

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

We got pre-approved and looked for this deal for 3-6 months. Patience was important for this deal to happen.

How did you finance this deal?

We went to the bank and got a 3.5% FHA/VHFA owner occupied with a $5k state assist to help with closing costs. That $5k was due at the time of refinance.

How did you add value to the deal?

we totally remodeled the unit we were living in as well as some other smaller sweat equity things.

What was the outcome?

$180k increase in value.

Lessons learned? Challenges?

So many on both fronts. We cant wait to do the next one but more efficiently and quicker.

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

Attorney Mike Johnson & Joe Finnegan, also our refinance lender was Mark Severance.