All Forum Posts by: Lucas Hunt

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $269,000
Cash invested: $60,000

Contributors:
Wale Lawal

4 bed, 2.5 bath in north Houston

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

Safe bet for a rookie investor to get on base and cashflow a couple hundred bucks a month

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

My realtor Wale Lawal found the listing and negotiated for me

How did you finance this deal?

Conventional 30-year mortgage, 25% down

How did you add value to the deal?

None, it was a new construction

What was the outcome?

Closed the deal, found a tenant, and started cash flowing immediately

Lessons learned? Challenges?

Due diligence in the tenant screening process is just as important as finding the right home

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

Yes Wale Lawal is my agent that I would recommend

Hello BP Fam - 

I'm looking to get into the house flipping game here in Houston and I am in search of a mentor/partner that is currently flipping.

My biggest challenges have been:

1. Locating off-market deals

2. Securing OPM (ie. other peoples money)

* I understand that neither of these surprise anybody*

In exchange for your guidance/expertise, I can offer the following:

1. Lead generation (ie. I currently work for software company that specializes in marketing automation. Company is called HubSpot)

2. Project management (ie. my former job was selling construction materials to general contractors doing residential remodels)

3. Cold calling/cold emailing & messaging (ie. I have been in commission-based sales roles since 2017)

4. Lending (ie. I have cash in the bank and can offer private money lending if needed)

5. I'll be receiving my Texas real estate license in 2 weeks and can help you run comps  on HAR free of charge

Always appreciate the guidance I get from this forum. Look forward to hearing from from all of you!

Hello BP Community!

I'm look at purchasing a property that has an ADU. Wanted to hear your opinion on me living in the ADU while renting out the main home to a long term tenant. The total expenses for the main home come out to ~$4000/mo, and I can rent it out for ~$3,500/mo. My goal is to simply mitigate my living expenses, not looking to cash flow right now.

The ADU is a separate home that is 30 feet away from the main home in the backyard. I can imagine that some perspective tenants might scratch their head if they find out I'll be living in the backyard.

Any potential landmines that I should consider before putting in an offer? Has anyone done this before?

Appreciate any feedback/opinions that you have!

Hello BP Community!

I'm look at purchasing a property that has an ADU. Wanted to hear your opinion on me living in the ADU while renting out the main home to a long term tenant. The total expenses for the main home come out to ~$4000/mo, and I can rent it out for ~$3,500/mo. My goal is to simply mitigate my living expenses, not looking to cash flow right now.

The ADU is a separate home that is 30 feet away from the main home in the backyard. I can imagine that some perspective tenants might scratch their head if they find out I'll be living in the backyard.

Any potential landmines that I should consider before putting in an offer? Has anyone done this before?

Appreciate any feedback/opinions that you have!

 Thank you Marci! That is the one we are leaning towards

I hear you Nate. I was thinking the same thing. I appreciate your insight here!

 I appreciate your insight Elliot

Hi Cody - my estimated monthly cash flow comes from comps that my realtor shared with me minus all expenses (HOA, Insurance, Vacancy, CapEX etc.)

Rental income for both are estimated at

$1700 on Property A

$1750 on Property B