All Forum Posts by: James Dainard

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $235,000
Cash invested: $72,000
Sale price: $430,000

Contributors:
Dominic Turco, Victoria Loder

Quality remodel in Lake City neighborhood of Lakewood. All permitted remodel! Open floor plan awaits you here at this gorgeous home. All hardwood floors, newly tiled kitchen with abundance of natural light with several skylights, wood cabinets and stone countertops with new backsplash. Wood burning firewood in living. Step into your covered patio through French doors to enjoy the large level back yard, perfect for an all year round entertaining.

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: $750,000
Cash invested: $168,000
Sale price: $1,295,000

Contributors:
Megan Halter

Meticulously updated home nestled in a quiet and serene corner of Kirkland! 17,000+ sqft tree lined lot w/ rich natural light sweeping throughout. Open living w/ French doors and sliders leading to the expansive wrap around deck letting the lush exterior flow seamlessly. Perfect for entertaining! Brand new kitchen w/ gorgeous new cabinets, counters, finishes and new SS appliances incl a gas Bertazzoni range fit for a chef.

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: $380,000
Cash invested: $102,000
Sale price: $650,000

Contributors:
Garrett Quinn, Megan Halter

Charming bungalow steps away from all Old Town Mukilteo has to offer- Ferries, mountain & sound views, Light House Park, local dining, boutiques, Mukilteo schools & more. Your slice of paradise awaits w this fully remodeled & permitted home. Open lay out w an efficient use of space. Brand new kitchen w playful yet sophisticated finishes, SS appliances incl gas range & dining space. Master w en-suite 3/4 BA, add'l 2nd bed, full BA plus detached flex space -perfect home office!

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: $475,000
Cash invested: $103,560
Sale price: $689,950

Contributors:
Vlad Tselnik, Victoria Loder

Stunningly re-imagined rambler in the heart of Bothell. No surface left untouched, enjoy new laminate hardwood flooring throughout. Open concept w/ bright designer kitchen complete w slab quartz, soft close shaker cabs, stainless appliances. Floor to ceiling tiled wood burning fireplace. Completely remodeled bathrooms w/ custom tile, vanity & fixtures. Charming master suite includes 3/4 shower with glass doors & custom selected finishes. New windows, doors, WH, millwork & roof.

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: $290,000
Cash invested: $120,000
Sale price: $515,000

Contributors:
Garrett Quinn, Megan Halter

Charming remodeled craftsman on quiet tree lined street in the N Everett Historical District. Open airy living w original built ins, lrg dining rm w picture window & open kitchen featuring all new shaker cabinets, quartz counters, SS appliances. 2 spacious BRs w tall ceilings flooded w natural light. Full bath w all new finishes & fixtures. Impressive private master suite on upper w huge 5 piece bath & walk in. Tons of potential w the 960 sq ft basement/workshop/laundry/1 car garage.

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 Jacob,

Keep buying!

Even as rates fluctuate, as investors, we should be looking to buy deals. We make our money on the buy by padding our proformas and dialing in our scope of work. The rates don't make or break the deal, they're a big part of the deal but one that everyone has to come to terms with.

If you're able to buy now you're in a position to negotiate the seller down quite a bit due to the current market. Lower your monthly as much as possible by negotiating a lower purchase price given the hit to affordability then keep the property until you can refinance at a time with lower rates.

If your property is equity neutral, meaning it pays for itself without cash flowing, you're in a great position to refinance, HELOC, or 1031 down the road. Make sure you have the reserves on hand for any maintenance and repairs.

Hope that helps!

 Hey @Gregory Rindosh

It's usually best to interview a couple brokerages to see what services they offer and what fees they charge (per month or per transaction or both). There are some agents who switch brokerages regularly, just be aware that legally, the clients and listings belong to the brokerage not the agent so you want to make sure you're keeping your own book of business. Other useful aspects of the database are keeping up with people and KPI's. Important touchpoints like birthdays, holidays, 1-yr since last purchase can help you accelerate your business by  staying in front of your clients. If you educate them and develop them into investors you've now converted one sale into a repeating sale.

Hey Joseph,

Focus on a niche, find a neighborhood or a client pool that you want to serve and find out how to meet the needs of that community.

We operate in a service-based industry to make sure you have systems in place for follow-up and for communication.

Keep up with the people you come into contact, we're also a network-based industry, the more people you know the easier time you'll have finding/placing deals.

Lastly, try and find a mentor in your area, find out what you can do for them that they can pay you for so you can get paid to learn and hone your skills.

Hey Jeff,

Cadet heaters are great! Easy to fix, maintain, and replace. Do it!

Hey Eugene,

Lot of great points mentioned here already.

The HOA will always eat at your cashflow and they typically only go up and any special assessments are liable to wipe out your cashflow for a few years.

It's typically better to invest in a house where, the appreciation rate is higher, and you have total control over the asset.

That's not to say that there aren't good condo's out there with well run HOA's, you just have to dig into those details to make sure you're protected and minimizing risk.