All Forum Posts by: Josh Phillipe Cote

Steven has been in Real Estate for less than 3 years but has hit the ground running faster than most. In his first year, Steven acquired 18 properties direct to seller with ZERO ad spend! Steven has also flipped many homes in his time as a Real Estate Investor. With the quick accumulation of rental properties Steven started HABU Property Management and within the first year took over 100 rental properties! Steven is an out-of-the-box thinker with a great capacity to solve the problems of a scaling business. Join us this Saturday to hear Steven give his insight into how to refinance and recycle capital, as well as his journey, business, and current projects!

This weekend we will be hosting an incredible guest speaker, Templeton Walker!

Templeton has an incredible track record as a Real Estate Investor, Realtor, and Business owner. Not only is he a remarkable success story in Real Estate and Business, but he is also an amazing family man. If you have followed him on social media for any amount of time, you know he is a man of principle, who doesn't just talk the talk, he walks the walk. With a wonderful wife and five children, you might ask how he owns and operates 5 businesses, and does as many deals as he does while only working 4 hours a day and making plenty of time for his family, and hobbies. It comes down to his systems, and principles for living a life by design. He is now teaching to others on his official platform, Realtor Doctors.

You won't want to miss this weekend!

For additional details, check out our Facebook group
https://www.facebook.com/groups/591251506519798

 It was great, this was my first time posting on Bigger pockets but we've been hosting the meetup since early 2023 mostly over Facebook. We typically get 30-50 attendees any given weekend.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $246,000

SFR in Post Falls Idaho, that I wholesaled to a friend who is a Buy & Hold Investor in the area.

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

I like the wholesale strategy for quick returns, and being able to get out of a property without too much effort.

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

It was a FSBO, that I called from Zillow. Turns out due to personal issues he was not going to be able to take on the project, so I negotiated a purchase from him, and was able to find a buy and hold investor who wanted it.

How did you finance this deal?

I did not.

How did you add value to the deal?

I added value by bringing a buyer who wanted a good deal!

What was the outcome?

The seller got their cash, I got a nice assignment fee, and the buyer got a new rental property!

Lessons learned? Challenges?

This was fortunately one of the easiest deals I've done.

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

I did not, however, I am a real estate professional. My team, North Idaho REI at Keller Williams in Couer d'Alene, sells over 200 houses a year. Every team member is an investor, and we work primarily with other investors, as well as typical on-market buyers, and sellers. Reach out to me if you need help navigating the insane North Idaho Real Estate Market! 208-818-2804.

Thank you!

Investment Info:

Mobile home fix & flip investment.

Purchase price: $199,000

Current Fix and Flip project. Renovation should be completed first or second week of April. Expected Sale price will be between $350-$375,000

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

I enjoy the thought of taking something undervalued and creating something new that people see value in.

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

It came in from a newsprint Ad that I ran in a local paper. The seller called me directly and over the next week or so we negotiated the price and terms of the deal.

How did you finance this deal?

Hard Money was used to purchase the deal, at 12% and 3 points.

How did you add value to the deal?

The property is being completely renovated, new kitchen, bath, flooring, paint, etc. The property is also a manufactured home so we were able to convert it to real property by tying it down, and fixed many of the issues the property had when it came to electrical and plumbing systems.

What was the outcome?

We have not yet completed the renovation, however, it should be done by the first or second week of April. We will likely sell this property for $350-$375,000 due to the 20x40 shop and 5 acres of land that it sits on. These perks are hard to come by in our current market.

Lessons learned? Challenges?

We had to do a lot to get the property financeable by a bank or traditional lender, in order for a typical on-market buyer to be able to purchase the property. There was a lot of coordination with an engineer to make sure everything with the tie-down was up to code. Manufactured homes are just a different beast in general, so learning mostly came in the form of the specifics on HUD certification etc.

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

I myself am a licensed Agent in Idaho and Washington. Our team specifically works with Investors (North Idaho REI Team), as well as typical on-market buyers and sellers. You can reach out to me at 208-818-2804, or check out our website at Northidahorei.com

My go-to Lender is David Bardin with Premier Mortgage in Coeur d'Alene , (208) 661-3879 or pmrloans.com. You can let him know I sent you.