All Forum Posts by: Mark Gray

Mansfield is a great place to buy rentals, it’s still pretty cheap here and rents are starting to increase at a good rate. How much cash flow are you looking for per unit? 

@Zeke Liston thanks man appreciate it!

Investment Info:

Single-family residence fix & flip investment.

Project is done! Took 92 days to rehab, its in the small city of Shelby and still on the market. Will update after the sale!

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

Wasn't really interested in this property because its 30 mins aways. Except the fact its on one of the best road in a small very low market town. But the comps were pretty high for this house.

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

Auction

How did you finance this deal?

Personal Cash from previous flips

How did you add value to the deal?

New paint, Floors, Kitchen, Bathrooms, Hardware, Windows, Light Fixtures, and Appliances. Just about everything from top to bottom.

What was the outcome?

Its still on the market, winter time. Nothing is really moving in our market

Lessons learned? Challenges?

I've learned more about managing contractors, and trying/learning to get my processes in place for the next flip so It can almost be on auto pilot.

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

Found some good contractors, painters, floor installers, that I've already recommended to people and will again if you ask.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $26,000
Cash invested: $22,000
Sale price: $74,000

Not a home run, but learned a lot and still landed on tip
Remodel - Roof, Tree Removal, landscaping, Kitchen, Bathroom, Bedrooms, Basement, Floors. From head to toe.

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

The numbers worked!

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

Sheriff Sale, Cash Auction

How did you finance this deal?

Cash

How did you add value to the deal?

Remodeling from top to bottom

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

I'm an Agent

I’m glad to see other Mansfield people here! We all should get a meet up going and learn a little about each other. I would like to know what everyone is looking to do in RE, me personal rentals and flips. I’m not to interested in wholesales. Possibly looking to partner up. The soul purpose is to grow as large as possible and become financially free! I would love to hear from you guys!

I see that nobody from Mansfield has created a local forum. Looking to network with some people, maybe get something going!!