All Forum Posts by: Johannes Bezuidenhout

@Kaela Marable

Thanks for the tip I will check it out

@Gabriel Lopez

Gabriel I'm glad your pushing to get that first one done. As for the auction this one was online although I look everywhere for a deal I found this one in budget and great location near a elementary school and shopping. I did not have any help with the process I jumped in and asked as many questions as possible luckily the sellers and the title company where very helpful I was honest and told them I had no clue how it all works. I also recommend listening to the bigger pockets pod casts they help and do the home work necessary.

With buying in Houston It was difficult I struggled winning bids and getting my offers excepted because the market is so saturated after 15 deals falling through I focused on cheaper and easier grabs. In a smaller market I put one bid in and it was the winning bid it was ment to be. I plan on buying a lot more over there I know the market now. I would love to buy in texas but I need a solid amount of capital and the cheaper houses will get me that capital I need.

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@Ray Fisher

Ray this house is located in Cabot

@Johannes Bezuidenhout

Add on to Ashley's post I took the medium price bid not the cheapest and not the most expensive because the guy had solid references and also knew what he was talking about.

@Ashley Kehr

Good Question Ashley so I used facebook market place because they where local and close and also a much quicker response and normally those guys on are a lot more hungry for work. I got 3 Contractors out there I also only asked for there labor not including materials and I handled the materials with the Contractor. That also allowed me to cut out markup costs of materials.

@Ryan Deasy

Thanks Ryan yes that's the plan atleast two more this year.

@Robert Khalev

Yes exactly use the loan buy another auction home renovate a try sell this time pay the loan back and buy another rental cash and repeat. Trying to not stay in the loans too long so I build a good relationship with a lender.

The first one was the hardest now that I have a solid contractor at a very affordable price.

I purchased a out of state property. I live in Houston and purchased in Arkansas due to the great prices for real estate and the need for rentals there. I purchased this home at Auction and then looked around for a contractor to help me remodel the process was somewhat intimidating but I pushed through I ended up after purchasing 2 months to renovate put it on the market and within a week and a half I got it rented.

Purchase price was. $ 58 000

Contractor plus materials. $18 000

ARV $ 130 000

Rental income generated $1050.

Cash Purchase and Cash repair I own it free and clear. Not to implement the BRRR.

@Jerel Ehlert

Thank you very much for the advice.

@Tom S. Thanks for the advice Tom