All Forum Posts by: Johnathan Tristan Mathis

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $80,000
Sale price: $209,000

Im not good at this type of stuff, but a brief desciption of the property and what we did. It was an older home from the 1950s we had to replace elctric plumbing and all dry wall etc. this house was a complete gut but we didnt buy it knowing that. It took us around 20 months to turn this property around.

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

It was my first deal and it seemed simple at first.

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

We bought on foreclosure from a bank. not much negotiating because it was an auction.

How did you finance this deal?

Cash and one loan from my brother is how we financed the deal.

How did you add value to the deal?

Complete rehab.

What was the outcome?

A good solid profit but not enough to justify 20 months of work.

Lessons learned? Challenges?

Allows buy low and get an inspection if possible

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

I worked with one comtractor that was able to make the rehab way easier.

I am dealing with an elderly woman that wants to sell her property But she she would like to live in the property after. Are there any creative ways to buy this. I have thought about buying it to lease back to her but she has said know. 

Any other ideas?

I am debating on getting a business credit card to separate by personal expenses from my business expenses? Is this a good idea/worth it over just getting another personal credit card from a new company?

I am debating on getting a business credit card to separate by personal expenses from my business expenses? Is this a good idea/worth it over just getting another personal credit card from a new company? 

My question is, when should I start investing in real estate. I am getting anxious to start now, but when I find a good property I get second thoughts and move on.

I am a Realtor with only 1 year of work history my wife makes the average salary for our area around 35k. Have 15K saved.

Our debts combined, though all in my name, are 50k. Should we pay this down before?

Where should I start?

Any thought and comments are appreciated!

I have a property I am looking to acquire private or hard money lending for. I want to break into the investor side of real estate but I-m to scared to take the leap with random people/lender.