All Forum Posts by: Mauricio Solano

Investment Info:

Single-family residence fix & flip investment in Waukegan.

Purchase price: $80,000
Cash invested: $20,000
Sale price: $149,000

We purchased this property directly from the homeowner, fixed it in 12 days! We put it on the market and had 12 offers.

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

I flip in order to fund my buy and hold deals.

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

I sent the homeowners a letter.

How did you finance this deal?

I asked 2 investors to finance this deal. I paid them 8% return.

How did you add value to the deal?

We did a major clean-up. The previous owners left a lot of their belongings there. After the property was cleaned out, we painted it and installed new floor.

What was the outcome?

We put the property on the MLS and had multiple offer with 3 days.

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

My wife is a great real estate agent.

We use Cozy.co. So easy and free!

Hi, I recently purchased a mixed-use property with a commercial storefront on the first floor and an apartment on the second floor. I've had to do some extensive rehabbing to the building but it's almost completed! When I purchased the property, my plan was to rent both units. However, my business partner (wife) and I decided to rehab the 1st floor to use as our office. We designed the space to have one conference room/meeting area, and the rest is open. We currently have 10 rental units and complete several flips a year so one use of the office will be to meet with our current tenants, investors, and potential sellers. However, what other ideas do you have for a way to use office space as an investor? What would you do with the office?