All Forum Posts by: Jason Castro

@Arthur P. Texas has already suspended evictions.

@Dave Foster that’s great advice!

Investment Info:

Single-family residence buy & hold investment.

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

My First Rental property came when my father in law needed to sell a house to pay for a wedding. I asked if he would want to sell half instead of the whole thing and he gave me a great deal! I bought out the other half a few years later and am currently contracted to sell it to the tenants for 150k. I am performing my first 1031 Exchange with this one and hope to split the proceeds between 3 new rentals, or 1 small (2-4)multifamily.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $69,000
Cash invested: $18,000

Intended as my first flip, but was limited in my selling price by FHA for a 3 month period, so after we completed the rehab in 2 weeks, I put a for rent sign in the yard to see what happened. Got a great tenant that is still there today. We performed a cash out refinance 6 months after purchase. My first Brrr before I knew the term!

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

It was cheap and close by.

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

I called an agent about 1 deal and found out it was already gone. He sent me this deal the next day and it was a foreclosure auction on the MLS. I ran numbers and determined my max offer and went for it!

How did you finance this deal?

Private money borrowed from my grandmother after helping her rehab and sell a problematic investment property.

How did you add value to the deal?

cosmetic updates

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $154,900
Cash invested: $75,000
Sale price: $390,000

We got started investing through our primary residences. This has been an incredible model for us. My wife and I are on to our 4th home together and each on we purchase, rehabbed, lived in a few years, leased it our for a few years and then sold while we could still take advantage of the capital gains tax exemption provided for homes that you live in.

How did you finance this deal?

conventional financing with 5% down.

How did you add value to the deal?

Enclosed a garage and remodeled interior/exterior. Added 2 car garage in rear.

What was the outcome?

over 100k in tax free profits after we enjoyed a new home for a bit, and then cash flowed $1000 on top of our mortgage for 2 years before selling it.