All Forum Posts by: James Dainard

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $1,000,000
Cash invested: $72,000
Sale price: $1,200,000

Contributors:
Megan Halter

This stunning home in located in prime Phantom Lake location! The home exudes class with its formal living and dining spaces perfectly set up for entertaining. Open concept kitchen and living with informal dining space complete with warm timeless finishes. A convenient powder room and office located on the main floor. Spacious primary bedroom upstairs with dual walk-in closets and ensuite 5 piece bath including jetted tub. Two bedrooms with jack and jill bath plus 4th bedroom all on one level.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $390,000
Cash invested: $96,000
Sale price: $680,000

Contributors:
John Whitney, Katie Kepler

Come view this beautifully updated daylight rambler! Vaulted ceilings, wood burning fireplace with abundant natural light welcomes you. This home is thoughtfully updated with designer touches throughout. Step into the open concept living with contemporary kitchen featuring quartz counter tops, ss appliances, spacious island with tile backsplash. Dining space has access to spacious deck, great for enjoying outdoor living! Primary is on the main floor with ensuite bath.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

 Hey Fernando,

This question is on a lot of people's minds right now. Experienced investors are always buying, they just adjust our criteria and the returns they're looking for. The more unstable a market, the higher the returns have to be in order to take down a project. It sounds easier than it is in practice. What this looks like on the front lines is having difficult conversations with agents/sellers about what renovation costs and timelines are right now. It becomes a numbers game of finding the right seller at the right time which makes coverage that much more important.

We're having to look at deals a little differently right now and are prioritizing deals that have multiple exit strategies.

With rates continuing to rise, we as investors have to find a way to plan for the future. Historically we've seen that interest rates will normalize after a spike like this. What they'll normalize at is anyone's guess and we're going to see rates get worse before they get any better.

Many of our clients are going after straight rentals right now as a hedge against inflation and rates. It requires a bit more capital tied up/invested in rehab to get the deal to work but once we're able to refinance those in a couple of years the cashflow positions and the equity gains will be there

If you can get a primary residence that lines up well with a 2-3 year refi timeline to become a rental that's another great way to keep buying right now.

Rates are rough but they don't kill every deal. We're all dealing with this and sellers have to play their part as well in being reasonable on pricing.

Tl:dr Go for coverage, get in front of the right seller at the right time, know your rehab rates/timelines, manage expectations, pad proformas, keep investing

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $375,000
Cash invested: $20,400
Sale price: $460,000

Contributors:
John Whitney, Megan Halter

This is a superb home in a quiet and serene location all while being in the heart of the vibrant growing city of Bellevue! Tucked away with its own garage and easy access with NO stairs, this home welcomes you with new flooring throughout, fresh kitchen cabinets and new quartz countertops. Dining room opens to the living room with cozy fireplace and access to the large back deck overlooking the lush greenbelt.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $619,000
Cash invested: $105,600
Sale price: $899,950

Contributors:
Vlad Tselnik, Victoria Loder

Gorgeous re-imagined home with designer finishes in Kirkland. Step into the open floor concept with vaulted ceilings and abundance of natural light. Brand new kitchen with stainless appliances, white shaker cabinets, and quarts counters. Enjoy the large deck off dining with the beautiful view of evergreens. Primary bedroom has slider and 3/4 private bath. There is another bedroom on same level with a full bath. Lower level has 2 more bedrooms and 3/4 bathroom.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $245,000
Cash invested: $92,400
Sale price: $410,000

Contributors:
Dominic Turco, Megan Halter

This charming craftman is fully updated and move-in ready perfectly situated on quiet street. The inviting covered front porch draws you in to the open living room with spacious dining & brand new beautiful kitchen featuring white shaker cabinets, quartz counters & SS appliances. Observe the 2 bedrooms plus full bath with deep soaking tub, tiled backsplash and all new fixtures. Don't miss the finished upper level with potential 3rd bedroom or huge bonus with plenty of space for relaxing and play

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

 Hey Vincent,

Is there a chance that you can move into the new place on an owner-occupied loan and use your current property as the MTR? That way would get you down to a 3.5-5% down range. Your payment will end up being higher but if you're confident in rents you could make it work.

Best of luck!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $1,020,000
Cash invested: $240,000
Sale price: $1,625,000

Contributors:
Garrett Quinn, Victoria Loder

Don't miss this Craftsman Gem in Phinney Ridge! Step up onto the gorgeous front porch and into the open floor living area with tall ceilings. This fully Permitted Remodel includes brand new chef's kitchen with double oven, gas stove with pot filler and custom cabinetry. The bedroom and full bath is located on the main floor. Primary bedroom has a 5 piece suite with a view relaxing in your tub, large double vanity and walk-in shower.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $268,000
Cash invested: $72,000
Sale price: $435,000

Contributors:
John Whitney, Megan Halter

Don’t miss the opportunity to own in this charming Maplewood neighborhood just steps away from the Maplewood Golf Course! This turn key remodeled rambler lives large with it’s open floor plan and bright & airy living spaces. The generous sized living, dining and kitchen feature brand new shaker cabinets, quartz counters and SS appliances. The primary bedroom offers its own ensuite 3/4 bath. There is a spacious 2nd bedroom plus full bath and Separate laundry room.

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

Fix and flip investment property for a client.

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

On the MLS.

How did you finance this deal?

Hard money with Intrust Funding.

How did you add value to the deal?

Fix and flip renovations.

What was the outcome?

Sold the property.

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

Check out the Heaton Dainard team!

 Hey Ashlee,

This is a great question and one that comes up every now and then on the forums.

It is totally normal for an investor to work with multiple agents. That being said communication is paramount. You want to make sure that each agent understands what your criteria for buying are as well as what criteria they're responsible for searching.

If you have a ton of overlapping agents you end up creating a ton of extra work that all but one agent don't get paid for.

You want to be very clear that you are ready to purchase and will purchase the deal from the agents that sent it to you first. Be aware that communicating this will weed out agents that already have a large buyer pool may make them walk away but that's ok because you're building your team and want team members who are going to have your best interests in mind!

Hope that helps!