All Forum Posts by: Jonique Whitaker-miller

Found a property in Tennessee. The neighborhood’s recent sales were around 95k to 165k. 
I’ve never flipped in another state but because of the price it’s hard to pass it up. However I just might because getting our tools & renting a truck to haul sheet rock and more sounds extensive. 
The house needs about 25k -35k in repairs. 

The house is only going for 15k. The owner has way to many investment properties to fix so now he is trying to get rid of some! 

Has anyone else flipped in another state if so did you drive with all your materials! 

Debating on whether to flip or assign it. 

yes & no. It’s close to areas where they are building those apartments . New Berne Ave where they are also building those million dollar houses so the whole zip codes equity is rising. 

I’ve managed to pay it down to significantly! They just built a 100 unit apartment community , a school . On top of me living 3 minutes from the neuse  river! 

I’m glad I bought when I did! 

Restoration needing ***** 

Adding to the last part of what I said because it didn’t post. 
I cashed out w/ my refinance at the minimum amount possible & worked + used half of my saved money so my refinance wouldn’t affect my cash flow from the rental property. 

I would also like to add, what type of investment property do you want?

Duplex , Single family , turn key or remodel?

That also plays apart as well. Remodels or restore needed homes tend to go so severely less than market value ( sometimes). This will free up some of your money as well being you wouldn’t be paying full market price for a home & depending on the work needed & wanted you might still break away from extra cost . 

I second mr.Davidson’s thought! My financial advisor told me I need to know what I want first before I decide where to pull the money to spend. 

I ended up refinancing for a cash out. 

Ahhhh thank you ! I honestly didn’t know how good the investment I made was. I was just trying to not be subjected to increasing rent rates every year being that I was a single , new college grad! 
How did you expand or get into what you did ? 

I understand. Let me give it to you in both perspectives. I've had people hold out/ not be as aggressive as I wanted them to be which caused me to lose out on a property I wanted. Seller had a short time period and the offer was submitted after the due date I was upset. So this is why I say I understand.

However, if you have worked with this realtor before then you should know she knows what she is doing. Not saying there could never be a error but do know this realtor wouldn't do nothing to jeopardize the client & agent relationship. I can tell you that, these things takes time & although communication hasn't been extended yet, doesn't necessarily  no progression is being made. 

Give yourself 1-2 business days and do a follow up. If you like me, 1 business day and after call, email &/or Text!

sorry for any typo's!

Investment Info:

Townhouse buy & hold investment in Raleigh.

Purchase price: $115,000
Cash invested: $15,000

Bought home in Raleigh North Carolina as a starter home for rental properties. Property originally foreclosed on. Minor Remodeling inside and complete front yard make over. Equity over 90k+.

Now I've helped many buyers find investment properties in North Carolina, Tennessee, South Carolina, Virginia, Georgia, Louisiana, Arizona & Delaware. Currently Branching out into Texas and Florida.

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

I knew that it would pay off once I attended Nursing School and Business School. My plan was to keep it for two years and sale it once I graduated Nursing school to pay off debt. I saw how fast the surrounding area was being bought up by investors so I decided to hold and rent out.

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

I had a aggressive realtor who met my aggressive negotiating technique! It was with a Bank at That!! You want me on your team!!

How did you finance this deal?

Through the Bank with Great Credit!

How did you add value to the deal?

I am a amazing limited architect with a father who owns a construction/ remodeling business. He taught me how to remodel. I taught myself how to design front yard based on trends, median income of the surrounding houses (this plays a heavy part), surveying and staying on top of draw points.

What was the outcome?

My property is almost worth double what I bought it for! A friend/ investor ive worked with who trusted me with his search for his first rental property, now has a property he bought at 120k is now worth 345k. I've always been very adamant on watching trends and data. That paired with my aggressive approach to working deals has paid off this far! Yes, I'm Still a Nurse!

Lessons learned? Challenges?

NEVER GIVE UP! A no is only a NO because a mutual ground hasn't been found yet!