All Forum Posts by: James Dainard

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $330,000
Cash invested: $102,000
Sale price: $560,000

Contributors:
John Whitney, Megan Halter

Easy living in this one story beauty that has been updated with gorgeous finishes throughout. Living, dining and kitchen open to the back patio creating an inviting entertaining space. Kitchen features new shaker cabinets, quartz counters, tiled backsplash, SS appliances and impressive island with range. Private master suite with 3/4 bath and french doors to its own back deck. Unwind in your own retreat! Three additional bedrooms and spa-like full bath. All new fixtures, doors, trim, windows.

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 Matthew,

This really boils down to what you're comfortable with. It sounds like you've got the experience and the handle on the numbers in order to be able to navigate this stuff pretty smoothly.

If you're uncomfortable with the leverage positions you're likely going to want to wait until 25% down. That'll allow you to skip out on any PMI/MIP fees associated with a loan. A lot of our clients will opt for 5-10% down depending on the project/payment if they are planning to live in the home.

If you're looking to do more flips you should chat with a hard money lender to see if they'll fund some of your projects!

Hey John,

In terms of "timing the market" the time is now. If you are able to identify a property that works on your proformas and is insulated enough from the swings that we're seeing in the macro-econ of the US right now you should be good.

The hit to affordability is creating deals right now. If you can figure out how to take down a cash-neutral or cash-flowing property with the interest rates we have now, you'll be in a great place to refinance once we're through this mess.

Make sure you're mitigating your risk and triple checking your numbers/budgets.

Hey David,

If your rent is cheap now you could consider buying a home then rental arbitraging the apartment you have. You could do the opposite as well if you don't want to house hack/move. You can buy a house then use that as the STR while living where you are now. You mentioned that you'd like to move to a home in the next year, maybe you push that to two years and the first year the house just works to offset your monthly living expenses so you can save up for another AirBnb.

Your primary goals should be minimizing your monthly expenses and maximizing the rental income from whatever you're going to purchase. 

Best of luck!

Hey Rodrigo,

Going off of what Jeff said, you want to find an agent who's familiar with the houses in your neighborhood, they'll be the best suited to helping you get an offer accepted. Make sure you meet with a lender as well to see what you can afford. Try and find a mortgage broker that lives in your state as they'll be more familiar with any local programs that might be offered.

You'll want to talk with a CPA about this but you can set it up as a business account and track some of your expenses as business writeoffs!

Hey Huy,

Also not 100% on this but Rockwell is typically good about updating their course to prepare you for the exams.

Hey Bryce,

We're still flipping but we're making sure to pad our proformas to account for longer hold times and new market values.

Success is built in on the buy when you have multiple exit strategies and a good estimation on your renovation costs.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $390,000
Cash invested: $84,000
Sale price: $676,300

Contributors:
John Whitney, Megan Halter

Beautifully remodeled home perched above on quiet street with views of the city and the NW surroundings. Inviting finishes welcome you home with open and light filled spaces. Kitchen features all new shaker cabinets, quartz counters and SS appliances. Great entertaining space - open to the dining, living with cozy fireplace and expansive deck. Main bath with all new stylish finishes. Master suite has ample space with large walk closet and spacious ensuite full bath with dual vanities.

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: $305,000
Cash invested: $102,000
Sale price: $580,000

Contributors:
John Whitney, Megan Halter

Impressive remodel on quiet cul de sac ready to call home! Vaulted ceilings, skylights, and bay windows letting in tons of natural light. Gorgeous kitchen with all new shaker cabinets, quartz counters, and SS appliances. Formal and informal living and dining giving flexibility for any occasion. Spacious bedroom or office on the lower, powder bath for your guests and access to the back patio - level and fully fenced yard. Upper with stunning master including walk-in closet and five piece 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!