All Forum Posts by: Kyle Dwyer

Investment Info:

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

Purchase price: $155,000
Cash invested: $38,750

Taking down the old meringue stucco and adding new fresh siding. Found many rotten studs and rotten areas! Adding a covered back porch and new windows to the building, as well as adding a half bath and a bit of square footage by adjusting the front door entrance. Adding a wainscot stone in the front as well to give it an extra pop. The property will definitely stand out from the rest on the street!

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

I have managed properties on this street for years, and see the overall neglect. The area is amazing, and wanted to rehab this property to start improving the street!

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

MLS. I negotiated with no inspections, and AS-IS to the seller. I own a management company and rehab properties often, so know what to look for in terms of structural issues.

How did you finance this deal?

30 year fixed second rate mortgage. 25% down.

How did you add value to the deal?

Replace siding, adding covered back porch, and rehab interior. Add a half bath and change the layout of the kitchen of rid the "Galley style" kitchen and make it more open

What was the outcome?

Pending. Still in progress

Lessons learned? Challenges?

Still in progress.

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

I am a Realtor.

@Matthew Komitsky

A good way to start. That is what I did in the beginning and now am at 10 properties! BCS is a great place to invest

@Gregory Schwartz

I vote D.

The market isn't the same, and will not be what it was. But that isn't necessarily a bad thing. The market changing due to world events doesn't mean it is getting worse!! It means you have to change with it.

If you can do that, then success will be there for you. Its time for the world to pivot. Lets pivot with it.

@Bharat D.

I own a property management company in BCS as well as my own inventory here and despite what is happening in the world, we are continuing to lease our properties at increased rates!

The world is definitely changing, and with that the market. You just have to change with it and you will be successful.

Can't wait for your success with this!  I'm glad we are able to help you get there!

I personally invest in the Bryan/College Station area.  With this area being a college town, I feel like it is as much recession proof as it can get!  Feel free to message me on more info if you want.

I personally invest in College Station, TX.  Great place to invest in!  Lot's of options to choose from, so much so I have a management company here that I own and use to help other investors grow their portfolio!  Feel free to message me with any questions you might ever have about this area, as I would love to help.

I personally use Thompson, Derrig & Craig.  They have been awesome with my entity's.

@David H Cole welcome to BP!

College Station and Bryan are areas that I have experience in, and are getting great prices for a wide variety of properties.  We are steadily getting 3-5% rental price increase per year on the units my company manages.  It is all about WHEN you market the property, and HOW you market it.  Too many times, I see investors and managers fail at these things, and then feel forced to say that the market is saturated.  

I think differently.  The market is not saturated, it is CHANGING.  If you don't change with it, then you get left behind.  You must appeal to the tenant prospects in this area to succeed.