All Forum Posts by: Lawson Vicknair

Investment Info:

Single-family residence fix & flip investment in Ponchatoula.

Purchase price: $45,000
Cash invested: $30,000
Sale price: $107,000

3 bed 2 bath home. It was built in the 60s. We had to take out a wall, replace all paneling with sheet rock, re shingle the roof, and put in new flooring.

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

Ive always been pretty handy and was always looking for new ways to make money.

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

My moms realtor brought it to her and then she brought it to me.

How did you add value to the deal?

Updating and remodeling.

What was the outcome?

We profited about $30,000.

Lessons learned? Challenges?

Buying the right tool for the job will save a lot of time and effort.

Hi, I am currently working on my first subdivision deal. The property is 8.75 acres and has a small old house on it. Due to regulations in my county, I can only subdivide my land four ways. I have a partner to help me divide it further. If half of the land is in my name and half is in there's, I'm allowed to divide my half four ways and they can divide their's four ways. Once the lots are developed, I can then buy out my partner and own all eight lots. Each lot has to be a minimum of a half acre. My plan is to rehab the house, rent it out, and develop my four lots. I will then cash out refi to develop the my partners 4 lots and use the rest of the money to buy them out. Is there anything that I need to look out for? I know it has to be approved by our planning committee. I also have multiple exit strategies if it doesn't go as I plan. The house would have little cash flow if I just rehabbed and rented it. Or I could rehab it and sell it with one acre and have the other 7.75 acres  for $20,000 out of pocket. Then possibly sell just the land for around $80,000 to $100,000.