All Forum Posts by: Keritan Shelby

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $330,000
Cash invested: $50,000

Duplex buy and hold using saavy techniques.

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

This duplex was sent to me by my friend who knew I had experience with creative financing. He lives down the street from the property and already had a decent relationship with the seller.

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

The seller initially wanted worse terms than what was agreed upon, but I was able to make it a better deal. Not the best, but decent by uncovering what he truly wanted out of the property and why he was selling it as a saavy investor himself.

How did you finance this deal?

We purchased via an all inclusive trust deed and didn't have to go through a bank!

How did you add value to the deal?

My partner will manage the property and construction, while I acquired it and used my resources to facilitate closing and fund the downpayment.

What was the outcome?

Cash flow baby

Lessons learned? Challenges?

I funded the downpayment using my self-directed IRA. Since we created a new LLC at closing and were both 50/50 partners, I couldn't send the funds directly to the title company. So, I created a Subscription Agreement to "invest" in his company to wire the funds to him so he can send the funds directly to title.

I'm closing on a duplex via creative financing in the next few weeks. I'm buying in DFW

Investment Info:

Single-family residence wholesale investment.

Purchase price: $130,000
Sale price: $145,000

Collaborator on a wholesale deal. I made $3k

Investment Info:

Mobile home wholesale investment.

Purchase price: $85,000
Sale price: $100,000

I was the JV partner on this assignment deal. I generated the lead, and the JV partner closed on this mobile home. There were a ton of issues with this property one after another that delayed closing, but we were able to get to the finish line.

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

Part of my tax delinquent land campaign

How did you finance this deal?

Partner used a hard money lender to close on this property.

How did you add value to the deal?

I created the systems to generate the lead and the partner closed on it.

What was the outcome?

I got an assignment fee while the JV partner got a cash flowing asset.

Lessons learned? Challenges?

When a mobile home is Real property, you have to perfect the lien at the Texas Manufactured Housing Division. If it isn't done, then you need a certified document from the state filed at the county to perfect the lien. Then, on TDHCA's website for the property it needs to show Perfected.

Investment Info:

Other wholesale investment.

Purchase price: $6,500
Sale price: $8,000

Nice wholesale deal. Joint Ventured with a few partners to get this done.

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

Tax delinquent property. No negotiations needed

How did you add value to the deal?

I put the systems together to start wholesaling

What was the outcome?

Small assignment fee

Investment Info:

Other wholesale investment.

Purchase price: $500
Cash invested: $8,000
Sale price: $16,000

The amount of work it took just to clear title was the hardest part. This was a lot that was under contract for a purchase price of $500 and all in closing costs, hoa dues, back taxes, affidavit of heirship fees, was about ~$7300 to close and I used my business credit to purchase.

Reason I purchased it was because all other "buyers" wanted to purchase at a super low price point where I wouldn't make any money. So, I decided to buy it myself and list on the MLS.

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

Quicker than single family

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

I did some investigator work and pulled a tax delinquent list to prospect leads in this particular county.

How did you finance this deal?

I just bought it using my business credit card.

How did you add value to the deal?

No value add was needed, I did toy with the idea of moving a mobile home to the property. It was why I decided to invest in this market.

What was the outcome?

I sold it on the MLS.

Lessons learned? Challenges?

I know not all title companies are created equal and that few will close on a deal at a certain price point or do what's necessary to clear title on messy title deals.

Thank you for commenting Carol I really appreciate it.

Investment Info:

Mobile home wholesale investment in Lone Oak.

Sale price: $3,000

This deal came from a referral from a seller that I found from Facebook Marketplace. I had built good enough rapport with the seller that he referred me to this homeowner.

I found a mover who wanted to purchase it. He handled the paperwork, fees, and I got my fee.

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

Everybody and their unborn children are in single family, so I knew that I wanted to look into something in a different asset class.

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

Referral from a seller. He gave it to me for free as long as I brought a dumpster out there to let him get his belongings out of the property.

How did you finance this deal?

No finance needed.

Lessons learned? Challenges?

Movers can be your friends when investing in mobile homes!

Investment Info:

Other wholesale investment in Dallas.

Purchase price: $8,000
Sale price: $18,000

Wholesaled this lot and we just closed on it yesterday.

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

Less negotiating headaches.

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

This deal came from a VA we had cold calling a list of vacant lots that had liens on them. The list came from Propstream and the dialer we had the VA use was CallTools.

What was the outcome?

Wholesaled this lot!

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

JV'd with other wholesalers in the area.

Amazing post bro! Perseverance is key in this business and in life. Happy to know individuals like you my friend.