All Forum Posts by: Matthew Delapiedra

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $300,000

Did someone say BRRRR?
Super excited for my first BRRRR property I am adding to the portfolio. A wholesaler colleague of mine sent over this deal to me at 229,000, I was able to walk away with the contract at $200,000. I’m going to be putting in just a little north of $100,000 into this project while adding 500 ft.². Should be able to bring the value north of 550 K, going to lock in the lease of 2400 minus and refinance the property at least that’s the plan.

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

Honestly, anything real estate interest me right now primarily residential because that’s what I mainly focus on and I know the most about. I am open to networking with anybody and doing any deal. That makes sense. This deal seems like a no-brainer to me. I’m going to be able to increase the value through the roof with work of my contractors pretty easily.

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

A buddy of mine has a wholesale business here in the valley he sent it over to me.

How did you finance this deal?

Cash

How did you add value to the deal?

We’re bringing the property down to the studs, adding 500 ft.² of addition in the back, and a full overhaul of the entire property.

Thank you Chad, I would love to host ya! Thank you for the kind words man, have a great week!

Thank you so much I really appreciate that, it’s been very fun time so far and we’re excited to add some more short term rentals to the portfolio this year. Definitely tons of learning experiences but it’s been great. Looking forward to 2023.

The $1100 dollar difference in the mortgage to monthly payment? Yeah, I see what you’re saying.

I’m not sure I’m following, where did you get the $1000 of cash flow a month?

OK I’ll check that out again, I was looking at the bottom of the post I could only find the three dots, and none of them were offering the option to edit. But I appreciate it Peter, i’m gonna take another crack at it. Thank you!

OK here’s another one, I’m new to BiggerPockets platform and by mistake I put my down payment instead of the actual cash invested into this property. I definitely did not invest $400,000 cash, you can see the investment under my investments for accurate numbers. If anybody knows how to edit these posts, I would really appreciate the knowledge, not the most technically savvy, but I do my best. Thanks guys have a great day!

So I’m actually new to this, I was adding my investments and I made a post. I also realized on the cash invested, by mistake I put my down payment. The cash invested on this property was $4000 for exterior paint. I don’t know how to edit these posts. Any help would be appreciated. Thanks guys!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $840,000
Cash invested: $145,000

This is a long-term rental. I picked up down the street from my primary residence. Very cool property. It has three separate parcels spread out over 1 acre so I currently have three tenants. I utilize the 2400 square-foot shop in the back for myself as my own personal office.

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

I was looking for a shop space for myself, I couldn’t find anything good on the commercial size, so I found this deal on LoopNet.

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

LoopNet

How did you finance this deal?

Cash

How did you add value to the deal?

I built out the 2400 square-foot shop, the structure was already there, I framed it, insulated it and added air conditioning.

What was the outcome?

Great value add

Lessons learned? Challenges?

I did a lot of work here, I should’ve really thought it through all of the front, and I could’ve saved myself some money and done a couple things a little bit differently.