All Forum Posts by: Jesse Aycock

I am from Hattiesburg Mississippi and have been building turn key houses and remodeling for 20+ years. I built my first investment property 2 years ago as an experiment to see how much money i could save and ended up using it as my personal home. I ended up with around 275k invested and the newest appraisal should hit 450k+ once i finish the second phase of the second story. I am looking to get into real estate a little deeper as i currently work 14 days on and 14 days off schedule which gives me plenty of time to perform most of the work. Currently searching for land and flips in the south Misssissippi area.

Anyone have any properties near Hattiesburg Mississippi, Gulf Shores or Orange Beach Alabama. Looking for all types of residential or multi family homes or condos.

Investment Info:

Single-family residence other investment.

Purchase price: $275,000
Cash invested: $275,000

First personal home for investment built for $275,000 and appraises for $137 per square foot. Finishing another 360 square feet upstairs bringing the appraisal to $455,000.

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

With my normal job being a 14/14 schedule, It gives me time to utilize my skills and invest sweat equity into a new build.

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

Found a vacant lot in an old neighborhood and negotiated a purchase price of 32k from 53k.

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Sweat Equity

What was the outcome?

Between 150 and 200k in instant equity

Lessons learned? Challenges?

There were a few projects that i took on such as foundation installation that cost time.