All Forum Posts by: Jean Meier

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $215,000
Cash invested: $40,000

Current project Fix and Flip. 2+ BR, 1.75 bath on .33 acre. Needs new roof, new siding, electrical update.

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

This is actually about our 5th or 6th fix and flip. We like putting up a quality product for home buyers.

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

Real Estate agent brought it to us as a bankruptcy. Need for roof and siding made it not qualify for conventional financing.

How did you finance this deal?

Hard money lender for property balance, Down payment and fix-up costs we will pay for out of pocket.

How did you add value to the deal?

Undergoing rehab now.

What was the outcome?

Hoping to go on the market April 1st.

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

Brenda Dean at Aberdeen Realty

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $34,400

3 br, 1 bath SFR in Detroit, have had to do foundation repair in addition to normal maintenance.

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

Price was right

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

Real Estate training class

How did you finance this deal?

Paid cash

What was the outcome?

Good cash flow once we got a good property manager.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $59,300

3 br, 2 bath SFR in Milwaukee. Purchased as investment property for my IRA

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

Cash Flow

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

Real Estate Training

How did you finance this deal?

Originally via note and then purchased out of IRA funds

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,550

3 bedroom, 1 bath SFR

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

Cash Flow

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

Purchased at a Real estate seminar.

How did you finance this deal?

Funded note in my IRA account

How did you add value to the deal?

Bought move-in ready

Thanks for the input.  I will pursue some of your suggestions - and if you run into RPM, be wary.  Their primary office is in the greater Chicago area I believe, Westmont, IL!  AND this is not Real Property Management - totally different firms.

I ended up with RPM Investors, Inc. principal is Tim Rezek  as a property management firm as they were the managers for two investment properties I purchased in Milwaukee.  Since they had not sent me any rent receipts since January 2016, I finally replaced them in August.  They never say they won't send me the $12,000+ they owe me, they just imply it's being worked on (obviously for several months now) or don't respond.  I've had an attorney send a demand letter, but still nothing.  I'm an out-of-state owner.  What other recourse might work?  I can't afford to be an investor at this rate!