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All Forum Posts by: Kelsi Dockins

Kelsi Dockins has started 3 posts and replied 33 times.

Hi Everyone! I ended up selling this home for $35,000 last December. It's cash flow allowed me to get a duplex closer to where I live in Washington. I sold this home 1 month after closing on a duplex. This experience was extremely stressful being across country and in a different time zone. If anything went wrong with contractors, they called at 6am :/

But I would not have qualified for my duplex without the cash flow. I now have 3 doors in Washington state and will be keeping my investments in state for awhile. Thanks for listening!

@Denny Robert it is in Kingsway North area. South of Ferguson.

Thanks Kunle!

Brandon, ARV is around $30,000. And looking at it and the area, not sure it will appreciate much over time so more of a cash flow property!

@Bruce C. Hi Bruce, yeah labor was extremely cheap at this property. I do not know if I will get that lucky again! But we did do some trading as well. The contractor did some work for less in order to be the tenant when it was finished. So there was some negotiation there.

Originally posted by @Troy Bailey:

Truly amazing! I don't think I could have pulled that off remotely since I don't have that level of trust but I'm very encouraged by your rehab budget. I have a few sub 40k deals on my list but I have been in analysis paralysis on the potential rehab cost. Your story has given me another nudge to pull the trigger on one of them. 

 You got this, Troy! Dive in :)

Thanks Jason, yeah he sent me pictures of the work before I paid. 

I probably wouldn't do this like this again but it's working this time!

The roof is a flat roof, it was about $1800. Electrical was about $5,000. Everything else my contractor did for pretty cheap because he moved in.

@Shiva Bhaskar Thank you! Now just gotta make sure they pay and on time!

Originally posted by @Sarah Krausse:

@Kelsi Dockins, that's so awesome! You're story is so encouraging! How did you find and vet a tenant on your own, through an ad? And curious how you arranged a walk-through to give them keys, etc? I'm planning on doing a long-distance rental and working through these points myself.

Thank you!! The contractor actually became the tenant. I didn't do a background check but he mentioned some discrepancies from over 20 years ago that have been holding him back from getting into a rental. I trusted him to get the work done at his quote and he trusted me to rent it to him when the work was done. There were lots of leaps of faith on this one and I don't know if I would do it again this way but the labor was incredibly cheap and he was also at the house a lot so that gave me a piece of mind that someone vested was watching over the place.