All Forum Posts by: Joshua Randall

That's a pretty awesome place to be in! Other than the repairs needed of course

Hey Chris! I used Open Letter Marketing for my wholesaling business and got great contact returns

Would you be able to do a cash out refinance and still cash flow? Pay for the repairs needed and then get it rented again. For me that would be best case scenario.

 Equity in other assets isn't an option right now. But, I do have a few groups where I can poke around ideas about purchasing these properties and offering equity and splitting the cashflow. Probably my best option, and then handling all of the information and details to make it as passive as possible for them to make it as attractive as a deal as possible. 

I would definitely be interested in that, whatever gets the deal done honestly. The trouble is that I don't necessarily have people like that in my immediate circle and I haven't been working with anybody in my local REIA

There are multiple homes in a D1 college town that are 4/2, $127,000 purchase. I've looked at comparable rents in the area for college students and they sit between $365-425 per room rented. To put 20% down I would need $25,000. But I do not have that type of money to invest at the moment. 

If you were in my shoes how would you find the money to get these two investment properties. They are incredible deals and would give me the momentum to get the ball rolling in my real estate investing. 

I am about to begin the process of acquiring investment properties with the intention of using the BRRRR method. Finding financing and deals is not the area where I'm struggling getting started the most, but it's whether I need to seek out a professional contractor to hire and do the rehab or take the time and effort myself and do the cosmetic work/repairs the home needs. Which route is better and what have you found that works best?

Investment Info:

Single-family residence wholesale investment.

Purchase price: $195,000
Sale price: $240,000

Fixer upper property flipped with wholesale for $45k profit to investors.

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

Family friend needed a cash offer and we helped them get it sold fast to some investors.

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

Electrician's family owned the home and told us about the property after we hired them, they asked if we could help them out and we worked out a great deal for everyone involved.

How did you finance this deal?

Wholesale, no financing involved

How did you add value to the deal?

Owners were low balled by another wholesaler so we offered them more and it made them happy. Had some investors in mind and they loved the deal. Win-Win-Win

What was the outcome?

Cash offer on the property

Lessons learned? Challenges?

We were open and honest to the owners the whole time and it made for a smooth process and they actually came back to us with another family member a few months later.

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

N/A

They hiring more than one!? I'd love the opportunity to do the same thing, I'd say it's a great start if salary pay because then you can leverage that W-2 for investment loans, like house hacking!

Hi Cross! I worked with Hocker Title and Law and they were a great help when I was wholesaling in Indiana. They cover the whole state and can do everything virtually. Professional and quick responding when I worked with them!