All Forum Posts by: Julie Winter

Hi Tanner.

I have a partner on the building. We formed an LLC and while we qualified personally, we took possession in the entity name. The brokerage is in a single member entity, owned by me, and it has a lease as the only tenant.

Make sense? It was the most traditional way and fortunately we had the cash. I'll look for seller financing or have another/additional tenant on the next one.

Investment Info:

Single-family residence buy & hold investment in Fairview.

Purchase price: $265,000
Cash invested: $20,000

55+ community. This demographic makes for a fabulous tenant!

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

Bought the property for my mom when she was ill. Great community but not for me when she passed.

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

Off-market from friend in the industry.

How did you finance this deal?

Financed as OO, Conventional 5% down.

How did you add value to the deal?

Updated the flooring and wet areas. Added covered patio.

What was the outcome?

Operated at just under break even due to higher HOA fees the first 2 years. Appreciate and rent increases have me at $700 POSITIVE now with the same tenant. Going on 3.5 years with her and she pays on the 25th of the prior month! She's used to being a homeowner so her son fixes most things.

Lessons learned? Challenges?

I would not want to self-manage if they were paying regularly or had some reason they needed to be evicted.

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

Self.

Investment Info:

Office Space commercial investment investment.

Purchase price: $372,000
Cash invested: $75,000

3000 sqft free standing building on 3 acres. 8 private offices, conference room, break room.

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

Older broker of real estate company wanted to retire. She owned the building and sort of included the brokerage in the sale of the building.

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

Word of mouth working in the real estate industry.

How did you finance this deal?

Local bank

How did you add value to the deal?

My brokerage is the only tenant and we pay top dollar for rent.

What was the outcome?

I'd like to get additional tenants and keep paying top dollar for rent.

Lessons learned? Challenges?

The area is rural and very dependent on the water levels in the lake. I'm probably 5-7 years early on this property.

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

Myself.