All Forum Posts by: John Hoschouer

Investment Info:

Single-family residence buy & hold investment in Independence.

Purchase price: $90,000
Cash invested: $40,000
Sale price: $1,650

This 100+ year old, 3 bedroom home, is ready for new owners to bring it back to life. And its in a great neighborhood! Just a short walking distance to the fantastic galleries, restaurants, and shops in the Englewood Arts District. This home is a great opportunity for an investor either as a rental or a flip. Or a young couple, with sweat equity, who want to make it their forever home. The AC unit is only 4 years old and hot water heater is new. Original hardwood floors, trim, arched doorways, and handsome, functional, fireplace help maintain the original character of the home. And the fireplace can circulate heat on both the first and second stories. Don't miss your chance to own a home in one of the cutest neighborhoods in the KC area!

Investment Info:

Single-family residence buy & hold investment in Independence.

Purchase price: $90,000
Cash invested: $40,000
Sale price: $1,650

This 100+ year old, 3 bedroom home, is ready for new owners to bring it back to life. And its in a great neighborhood! Just a short walking distance to the fantastic galleries, restaurants, and shops in the Englewood Arts District. This home is a great opportunity for an investor either as a rental or a flip. Or a young couple, with sweat equity, who want to make it their forever home. The AC unit is only 4 years old and hot water heater is new. Original hardwood floors, trim, arched doorways, and handsome, functional, fireplace help maintain the original character of the home. And the fireplace can circulate heat on both the first and second stories. Don't miss your chance to own a home in one of the cutest neighborhoods in the KC area!

Hey everyone we are excited to join the Bigger Pockets Forums. My wife and I have completed 3 rehabs, and are working on our fourth. We have turned two of the rehabs into long term rentals. We are primarily looking for Single Family Homes in need of rehab. We would love to connect with Real Estate agents, Investors/Financing, and Contractors to build out our team.

We are located in NE Kansas and primarily are working in the Kansas City, Topeka, Saint Joseph, areas.

Because I am starting out, I have been self-funding my "gap," which limits the size and scope of the projects I can take on. On the first flip, I didn't follow the "rules" Jake outlined on his calculator and in his course. So when I started the project, my projected profit was just under $15k. When everything was finished, I made just over $2k.

My second Project's anticipated profit is around $30k (I followed the "rules" on this property), compared to an initially projected profit of $35k.

We just started my third project. Profit is projected to be $20k, but I also learned how to qualify better.

Yesterday, we reviewed a profit that my realtor was touting as having a potential of $100k; when I did my own numbers, I came up closer to $40k if it can sell. However, there isn't a strong sales history, so we are going to pass on it.

I have another deal lined up that I plan on purchasing in the next few days. The neighborhood has a strong sales history, and I should be able to gross $38k.

No school or class will replace the value of getting started and learning your trade. The Flip Secret gave me the confidence and motivation to go. As I make my mistakes, I understand why Jake teaches "rules." But I also understand that no one will ever be able to tell you 100% what your experience will be.

I joined The Flip Secret. It does a good job of teaching the basics of flipping, and with the discord group and coaching can help give the motivation to get off the sideline and into investing.

You can use resources like Bigger Pockets for free, or Bigger Pockets Pro for much less than Jake’s course, but the reality for me is I never would have taken the first step. It’s been seven months since I purchased the program and have already flipped one house, my second house is getting pictures taken today (rehab is complete) and will be listed around the middle of next week. Rehab starts in my third property in 3 days.

So I am a fan of The Flip Secret. but I recognize the cost is significant, and everything you learn can be found in other places. Best of luck in how you choose to proceed.

Here is a link to a video showing before and after. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $55,000
Sale price: $135,000

This two story St. Joseph gem displays meticulous craftsmanship and high end finishes throughout. This house has been fully remodeled and truly embellishes the classical architecture of the build; including, hardwoods throughout, custom windows, masterful trim work, a beautiful fireplace, and more. 712 Lincoln is a true work of art that welcomes someone new

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

I networked with Real Estate Agents and they called me about this deal.

How did you finance this deal?

I used a Hard Money Lender for my financing.

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

I used Trent Davis with New Western in Kansas City to find the deal. Jack Goodwin with Daytona Capital to sell the deal. I also used Josh Winters with Sherman Bridge for the funding.