All Forum Posts by: Kurt Smith

Investment Info:

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

Purchase price: $151,000

My first BRRRR. This is a 4 unit building that came with another lot to build another multifamily home.

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

I have read Buy, Rehab, Rent, Refinance, Repeat by David Greene. I thought his strategies and processes would best suit this current economy and be the safest form of investment.

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

Kept looking in areas I knew I could personally fund the purchase and the project. I have many resources in the area and the perfect deal was sent my way by the realtor.

How did you finance this deal?

Personal Funded

How did you add value to the deal?

The whole place needs to be fully renovated. I will have all new plumbing installed, roof, kitchens, bathrooms, create laundry rooms for every unit, and cosmetically enhance the place both inside and out. This should provide a better rent rate and increase the value of the property.

Investment Info:

Single-family residence fix & flip investment.

Cash invested: $40,000
Sale price: $515,000

This was a relative's home that we were able to renovate to make the house more appealing. Also increased the sales price with all of its new upgrades.

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

We didn't need to purchase the property. We were able to make a deal that worked for everyone.

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

We were able to make the house more desirable. Therefor selling at a better price and faster than an outdated home.

How did you finance this deal?

Didn't need to. Funded the renovation with personal funds.

How did you add value to the deal?

By updating the home inside and out.

What was the outcome?

Everyone in the deal walked away with a decent profit and are looking to do more projects with the money gained.

Lessons learned? Challenges?

Timing is everything. We started the project in the hottest market ever seen and sold in the quick cool off. Missed prime time by about three weeks.

Investment Info:

Townhouse fix & flip investment in Encino.

Purchase price: $160,000
Cash invested: $45,000
Sale price: $295,000

This investment property was a great deal due to the area it was located in. I update the interior with a timeless look and the location of the property made it even more desirable to potential buyers.

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

The location and number made sense to do this flip.

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

I found this property through a family friend.

How did you finance this deal?

Private financing

How did you add value to the deal?

I was able to update the interior of the townhome to add value to the property.

What was the outcome?

I sold this property for a good profit.

Lessons learned? Challenges?

A lesson learned was to use a realtor that is familiar with the area.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $167,500
Cash invested: $25,000
Sale price: $265,000

This investment property was my first experience flipping a home. New paint, new tile work, new cabinets and countertops, all made this house shine. It was a great first project and it was where my interest in investment properties began.

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

Flipping houses has always been a passion of mine and this project was my first opportunity.

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

The house was found on realtor.com. It became a bid war for the property, and I won out.

How did you finance this deal?

Private money was used to finance this deal.

How did you add value to the deal?

I added value to this deal by updating all needed areas of the home.

What was the outcome?

I sold this property and turned a profit of $72,500.

Lessons learned? Challenges?

One lesson learned from this experience is to always use a realtor.
A challenge was trying to work on this project while having another full-time job.