All Forum Posts by: Marlin Yoder

3,000,000

Appreciate you sharing what you are doing in Ohio. You clearly don't know our market in Sarasota. 

Investment Info:

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

Purchase price: $675,000
Cash invested: $250,000

Country estate with 2 houses. My wife and I moved to main house and rent the guest house as STR

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

2 units make it an ideal house hack. Property is on an acre lot so units are separated and very private making it a great house hack.
Located next to Benderson Park which makes it a great location for STRing the guest house. Rental income carries the debt service 100%

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

On market with motivated seller - negotiated $175k off list price

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Remodeled the guest house

What was the outcome?

Going live as a STR in 2 weeks

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

I am an agent

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $380,000
Cash invested: $135,000

Annual rental to be turned into STR when tenant vacates

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

Adjacent to rental we already own

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

Reached out to owner of neighboring property

How did you finance this deal?

Conventional loan

What was the outcome?

Great tenant that always pays on time - been there for 5 years

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

I am an agent

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $150,000

Dilapidated house. Bought from neighbor next door to rental we owned. Demoed the house, will be building a new house on site.

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

Adjacent lot to rental we already owned

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

Befriended the neighbor

How did you finance this deal?

Hard money loan

How did you add value to the deal?

We didn't. Bulldozed the house and plan to build a new house on lot in the future

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

I am a realtor

Direct mail works but it takes consistency over time. Our market in Sarasota FL I have found direct mail letters to work pretty well and we are a large retirement community, the retirement community responds better to snail mail than millennial and gen-z generation for sure. 

1. Location Location Location 

2. It is always the right time to buy real estate if you buy real estate the right way 

3. Don't wait to buy real estate, buy real estate and wait 

4. Never sell unless you have to or you are moving up in property type or class 

5. Bigger is not always better