All Forum Posts by: Kelly Muscarella

Thanks we have been fortunate most of our choices have panned out well financially. 

We are building our reserves so we do not have to use hard money.  Hard money is a tool to get you where you want to be.  It is expensive and you have to make sure to add the costs into your spread sheet.  If your margins are close, and you forget to add in 8,000 for hard money costs, that flip just became a sinking ship.  :-) 

Investment Info:

Townhouse fix & flip investment.

Purchase price: $196,000
Cash invested: $27,870
Sale price: $270,000

This was an attached 3 + 2 that had been lived in for 3 years by a man who did not believe in trash service.

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

the acquisition price

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

I am an agent

How did you finance this deal?

Hard Money

How did you add value to the deal?

Remodeled the entire thing and got rid of all trash

What was the outcome?

We made a very decent profit

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $343,000
Cash invested: $25,000
Sale price: $420,000

Lived in this for 2 years as primary residence to avoid capital gains.

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

We needed a bigger home, bought the worst house in the best neighborhood.

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

I am an agent.

How did you finance this deal?

Traditional Financing.

How did you add value to the deal?

Remodeled the entire home

What was the outcome?

We made a large amount of money in only 2 years

Lessons learned? Challenges?

None it was uneventful

Investment Info:

Single-family residence other investment.

Purchase price: $200,000
Sale price: $275,000

We did an equity share on this property. We live in a state with excise tax, so we went in and made a deal with the owner that they remain in possession of property and we do all the rehab. We make an agreement with the seller for the initial purchase price.

Investment Info:

Single-family residence other investment.

Purchase price: $200,000
Sale price: $275,000

We did an equity share on this property. We live in a state with excise tax, so we went in and made a deal with the owner that they remain in possession of property and we do all the rehab. We make an agreement with the seller for the initial purchase price.

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

the profit margin

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

Owner contacted me about listing property, I explained the advantage of rehabbing the home before selling it. We made an agreement for her to hold it while we fixed it.

How did you finance this deal?

There was no financing needed, the owner held it.

How did you add value to the deal?

We completely remodeled home. All new flooring paint, bathroom fixture.

What was the outcome?

The property sold for about 10,000 more than expected with multiple offers.

Lessons learned? Challenges?

This was an uneventful flip

We are expecting to rent it out for between 1,700- 1,800 a month, our monthly payment is about 1,195 ( we got a 5.1% loan through a credit union) so we should have positive cash flow of about 500-600 a month.  

Investment Info:

Single-family residence buy & hold investment in Vancouver.

Purchase price: $220,000
Cash invested: $8,000

We just purchased this home. It is our second rental. Positive cash flow immediately.

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

We want to build a long term portfolio fr retirement.

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

I am an agent, I was called to go on listing appointment, I offered them a deal, and gave them 2 months free to move out.

How did you finance this deal?

Regular rental financing. 20% down.

How did you add value to the deal?

It needed to be cleaned up and painted.

What was the outcome?

It appraised as is value while we were purchasing it at $250,000, we are holding it.

Lessons learned? Challenges?

none yet

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

I am the agent. But I used Columbia Credit Union for financing.

Investment Info:

Single-family residence fix & flip investment in Vancouver.

Purchase price: $196,458
Cash invested: $24,000
Sale price: $269,000

This was our first flip. It was a great success!

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

We started out going to one of those over priced seminars!

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

I was the listing agent on the home next door, the owners called me about selling their home. I went out on a listing appointment and made them an offer they couldn't refuse.

How did you finance this deal?

We actually purchased it using traditional financing, did not inform the bank it was not going to be a investment.

How did you add value to the deal?

Paint interior and exterior, flooring, redid the bathrooms.

What was the outcome?

It was a huge success. We netted over 25,000.

Lessons learned? Challenges?

We had a large problem we we discovered the water heater leaking, it had been leaking for years. INVESTIGATE everything, don't assume anything. Add in a pad.

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

myself