All Forum Posts by: Joseph Leibovitch

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $220,000
Cash invested: $70,000

A single family rancher. It had 2 bedrooms and 2 full baths.

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

An upcoming area for young professionals. The home values have grown year after year. There is equity in the deal and it grew fast. I knew I could get my target rent.

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

I found it through a realtor. This was a highest bidder auction. There were over 15 bids but I knew I wanted this deal. I figured out what the highest anyone would bid and bid around that amount.

How did you finance this deal?

I used investors for the down payment. I took a loan on my name.

How did you add value to the deal?

I gutted the kitchen and replaced it with a modern style kitchen. I did the same for the bathroom and the bedrooms upstairs. I added 2 bedrooms and a full bath that did not exist. I also sectioned off a part of the boiler room as a office/den. now the house is a 4 bedroom 1 den and 3 full bath superstar!

Lessons learned? Challenges?

I learned about the construction flow. It was very hard to get basic materials during Covid. I was dedicated in completing the project right at rental season my crews worked all day everyday and we were ready to show the house July 10th.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $220,000
Cash invested: $70,000

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

An upcoming area for young professionals. The home values have grown year after year. There is equity in the deal and it grew fast. I knew I could get my target rent.

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

I found it through a realtor. This was a highest bidder auction. There were over 15 bids but I knew I wanted this deal. I figured out what the highest anyone would bid and bid around that amount.

How did you finance this deal?

I used investors for the down payment. I took a loan on my name.

How did you add value to the deal?

I gutted the kitchen and replaced it with a modern style kitchen. I did the same for the bathroom and the bedrooms upstairs. I added 2 bedrooms and a full bath that did not exist. I also sectioned off a part of the boiler room as a office/den. now the house is a 4 bedroom 1 den and 3 full bath superstar!

Lessons learned? Challenges?

I learned about the construction flow. It was very hard to get basic materials during Covid. I was dedicated in completing the project right at rental season my crews worked all day everyday and we were ready to show the house July 10th.

Investment Info:

Townhouse fix & flip investment.

Purchase price: $38,000
Cash invested: $65,000
Sale price: $139,500

Bank owned forclosure in Baltimore City

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

The low price drove to invest. I was able to add sufficient value and still keep the price affordable. We ended up selling it to the second person that looked at the house.

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

Auction

How did you finance this deal?

Investors funded the initial purchase. Once we owned the property we split the cost of the rehab.

How did you add value to the deal?

We did a full rehab on all the floors. We changed the layout of the kitchen giving it a more open feel. We fixed the plumping and electric. We also added some extras like a Jacuzzi style bath in the master bathroom. granite and new cabinets in the kitchen. An island with a sit down area. we put a brand new roof on it. Basically making the house look completely new on the inside.

Lessons learned? Challenges?

I learned about estimates for the labor.