All Forum Posts by: Justin Campbell

@Tom Wagner Thanks Tom. 

1)I'm not going to BRRR this deal because I'm currently doing a BRRR with two other properties and I want to build more capital at the moment. So quick flips are what I'm attracted right now; this one is a big project, but I couldn't pass on this one lol.

2) I budgeted for 130k on the rehab thinking it was a full gut. Then I realized that all of the utilities(HVAC,ELEC,PLUMBING) have been updated already! So we will more than likely spend about 110k. I determined the budget based off of my experience with large projects in that area and I'm working with an awesome GC.

Cheers! 

@Austin Steed Thanks man! 

@Sean Grabow Takes a boss to know a boss! Thanks man, I'll text you the address ; ) 

@Remington Lyman Thanks man. It's amazing to see how much has happened in that area. 

@Zeke Liston Thanks man! 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $153,000
Cash invested: $75,000

This is a property in Old Towne East in Columbus,OH. Solid fix and flip. With a 460k ARV

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

This area is hot in Columbus and the numbers work great.

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

I found it through my GC. The sellers were asking 175k. We came in at 145k cash. We met in the middle at 153k.

How did you finance this deal?

I put up cash for the purchase. I am using private money for the other half of the purchase and rehab.

How did you add value to the deal?

This is a full renovation.

What was the outcome?

We just started last week. I will update when finished!

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

Yes. DM Me!

@Luis Serrano There’s a lot of great advice on this thread, I would just be rehashing. Implement some of these recommendations, don’t listen to the nay sayers. You will figure it out as you go along! I’ve been buying virtually for years and it takes balls. everything is possible! Keep going!

Columbus is where I'm from and I own several properties there. It has always done very well for me as far as cash flow AND appreciation. It just depends on where you are buying and for how much of course. My main reason for considering this deal is because I come back to Columbus very often and I am always spending money on AirBnB. I figured, why not build one right next to the airport?  Pilots,FA'S, and visitors would always book it and I would have a place to stay everytime ; ) 

This is a good way to approach this. Thanks for the info. I wasn't aware of the lumber costs amongst many other variables. I will also be negotiating these lot prices for sure, they are bit high due to the attraction of the area. How would you go about financing something like this? I was considering some private money along with a construction loan. Whatever option presents the most leverage. Thanks again for your input. 

I am looking at 3 plots of land in Columbus to do new builds on. The owner is selling all of them together for around 190k and is willing to do owner financing on the deal, we haven't discussed terms yet. I have never done a new build, so I am curious to how I should put this deal together. How would one go about financing the land AND the new builds? Can anyone with land/new build experience help with this?