All Forum Posts by: Jacob Messer

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $26,000

Currently being listed at $1250 a month.

This was a fairly simple turnaround. New paint, new kitchen, new flooring, new gutters, new meter. There were some more things but the bulk of the project scope has been mentioned.

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

We're always happy to find motivated investors!

How did you add value to the deal?

We developed a solid scope of work with a fairly tight budget.

Quote from @Bryan Martin:

Quote from @Jacob Messer:

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $94,000
Cash invested: $120,000
Sale price: $242,000

This was a rather ambitious project on a slowly developing street in Indy.

Nearby there are wonderfully remodeled homes and down the street there are a multitude of quant barn style homes.

This house was certainly the worst on the block but we did about everything we could to turn it into an AirBnb for our Client.

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

We love turning massive dumps into nice homes.

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

Our investor wholesaled the property from our network.

How did you finance this deal?

He used personal finances and hard money loans

How did you add value to the deal?

We did an initial scope and then increased it by $40k to increase the assessed value and put it in competition with the nicer comps in the surrounding area.

What was the outcome?

Investor got the appraised value he was looking for; pulled out and is actively searching for another property.

Property looks great and sounds like you did good.  Congrats!

 Thanks for the love Bryan!

Much appreciated !

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $94,000
Cash invested: $120,000
Sale price: $242,000

This was a rather ambitious project on a slowly developing street in Indy.

Nearby there are wonderfully remodeled homes and down the street there are a multitude of quant barn style homes.

This house was certainly the worst on the block but we did about everything we could to turn it into an AirBnb for our Client.

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

We love turning massive dumps into nice homes.

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

Our investor wholesaled the property from our network.

How did you finance this deal?

He used personal finances and hard money loans

How did you add value to the deal?

We did an initial scope and then increased it by $40k to increase the assessed value and put it in competition with the nicer comps in the surrounding area.

What was the outcome?

Investor got the appraised value he was looking for; pulled out and is actively searching for another property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $85,000
Cash invested: $30,000

This was one of our more recent projects.
We've partnered with a real estate hedge fund of sorts, this little old house is the first of many!

Simple fixes with this one; new flooring, new paint, new kitchen and new bath (to name a few things). I believe we put in new mechanicals as well.

Asking rent is a little over $1,000.

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

We wanted to partner with this fund and this was the first deal!

What was the outcome?

Scope of was satisfied and they put it out in the market. hoping to fill it with a tenant soon.

Investment Info:

Single-family residence fix & flip investment.

Cash invested: $70,000

Sale is still pending on this one.

This house was a disaster when we got in. Someone had abandoned a project halfway through and it sat, in unregulated temperatures for years.

We pretty much redid the entire place. Had to rewire and run new ductwork. We had to re do almost all of the drywall and fix the subfloor.
Added a new kitchen, added a new bedroom, LVP and paint.

Investment Info:

Single-family residence other investment.

Sale price: $179,500

Affordable Housing Foundation, Project #2

Comp = $215,000

It's not much but it's honest work. We have partnered with the Manship foundation to help alleviate some of the pains caused by the current housing market. We are able to go in and fix these homes at a fair rate and then put them on market under the comp price.

This project was fairly straightforward. New floors, new paint, new fixtures. We essentially came in and made this place a home again.

Looking forward to the next one.

Investment Info:

Single-family residence other investment in Indianapolis.

Sale price: $162,000

This project was very special.
It was out first partnership with the Manship Foundation.

We created a new bedroom upstairs, gave the upstairs central AC, updated the mechanicals and panel, new floors, paint, lights, etc.

Everyone deserves a home that's affordable that's also worthy of calling a home.
We feel we created just that for them and are proud of it.

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

The foundation approached us and we loved the idea.

How did you add value to the deal?

We created a comprehensive scope that didn't break the budget.

What was the outcome?

The house was just sold!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $53,750
Cash invested: $125,000
Sale price: $203,100

Sale price is the zestimate price. Pretty sure it is off market and being rented for ~$1500/ month. But that is just a guess.

This project was a hefty one. We re did the foundation, all new mechanicals, created a full bathroom upstairs, re wired the house, all new paint and floors, new roof, etc.

This was one of those projects that required every bit of my partner and I's years of experience.

Proud to call it a success!

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

We love huge projects that set the tone for the surrounding area.

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

Our investor came to us, he found the house through our wholesale partner.

How did you add value to the deal?

We created and navigated a complex scope, coordinated with the city on certain changes and got the project done without a hitch.

What was the outcome?

Everyone made money. The investor turned a dump into a nice home.

Lessons learned? Challenges?

The government is slow sometimes. Make friends and check on your permits often.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $75,000
Cash invested: $25,000

This was a quick flip we did to add considerable value to our investor's rental property:
- some framing, cabinets, counters, drywall work, paint, minimal bathroom work, appliances.

It was purchased for $75,000. After all things were said and done ~$25,000 was put into it. It can currently be sold for anywhere between $105k-$116k however the owner is more than fine renting it. From what i can tell it's renting for $1,100 and has been occupied for 14 months or so.

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

Our Investor was motivated to increase his rent without putting a crazy amount into improvements.

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

The investor found us through word of mouth.

How did you add value to the deal?

We were able to satisfy the investor's needs and budget constraints to create a desired living space that creates positive cash flow for him.

What was the outcome?

It is still being rented so that's a good sign.

Lessons learned? Challenges?

Make sure to sweep the back yard before mowing. Wouldn't want any surprises.