All Forum Posts by: Scott Johanek

@Ashley N Tauriac

It sounds like these properties are in a rural area based upon the values you stated. Rural towns always have young workers that are willing to hustle.

Before I would sell I would try this:I would post on FB in that town stating that I'm looking for someone to help fix up and manage properties for equity or a portion of the rents/ future sale price. This provides upside for you and them. You'll most likely find a young hustler who works for some construction company/trades. 

I know these properties don't cashflow now and I'm not sure of your personal financial situation but having these properties gives you some massive tax benefits with depreciation, deductions etc.

Worst case scenario you have what you have now so not much to loose in my opinion. 

Investment Info:

Other buy & hold investment.

Main level remodel of a vacant bank into a coffee shop.

Investment Info:

Other buy & hold investment in Mazomanie.

Purchase price: $180,000

"Dotty" was a vacant bank that turned into a condo upstairs and a coffee shop downstairs. The upstairs was all offices that was transformed into a super unique condo.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $225,000
Cash invested: $14,000
Sale price: $316,000

"Whitney" was an older farm house that needed to be opened up on the inside and also needed an extra bathroom to accommodate modern living styles.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $259,900
Cash invested: $30,000
Sale price: $385,000

"Cindy" was a home that had great bones but needed a total refresh on the inside and out.

Investment Info:

Single-family residence fix & flip investment in Sun Prairie.

Purchase price: $140,000
Cash invested: $34,000
Sale price: $250,000

"Dorothy" was one of the oldest farmhouses in Sun Prairie that we completely renovated to bring her back to life. This was one of my first flips. I lived in this property as I renovated it.

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

On Market

How did you finance this deal?

A blend of conventional financing and creative financing.

How did you add value to the deal?

Remodeled everything

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $167,500
Cash invested: $25,000

"Ruby" was a first live in flip for one of my clients. He was looking for a property that he could live in and fix up as he was there. I helped throughout the project and it turned out great.

@Taylor L. I intend to invest in Single Family Real Estate. Mainly focused on the BRRR strategy or seller financing.

@George Blower @Glenna Wood Thanks so much for the detailed feedback! I will take a look at a solo 401k as well as Madison Trust.

Hey BP Friends!

I'm looking at rolling my 401k into a Self Directed IRA to purchase real estate. I am leaning toward Equity Trust. Has anyone used this company or have any feedback (positive or negative)? Thanks!