All Forum Posts by: Maxwell Fontaine

@Corey Hartzler did you come to the reia meeting on thursday? 
@Payton Burks welcome

Investment Info:

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

Purchase price: $39,500
Cash invested: $50,000

This home is a rent by the room deal. I was inspired by Felipe from the Rookie podcast. It is a very high time commitment when compared to traditional rentals. But I will do this again to get a real feel on it.

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

The rent by the room model and high ROI peeked my interest, my business model is to impact as many lives in a positive way as I can and i feel this is another great way to do that.

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

I found this deal from the MLS, but my realtor told me the day before it was listed to get ready to purchase a good deal. And man was she right.

How did you finance this deal?

Private lending deal at 100%

How did you add value to the deal?

I fixed the flooring in the home and painted and added electronic security to each room. It immediately rented out

What was the outcome?

100% financed deal that cash flows more than double the traditional rental amount. Learned way more on this deal any other deal using a realtor.

Lessons learned? Challenges?

I learned that the purchase price and actual out of pocket price can be very different. An amazing tool to argue and leave the purchase price stay at what the original contract price.

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

I worked with an agent and a private lender.

@Joseph Firmin 75 ARV

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $58,000
Cash invested: $1,771

Took over the property subject to existing mortgage. Very motivated seller so this was a lay up for my first sub2 deal. TIMING IS EVERYTHING.

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

The opportunity to attempt this strategy was too great to pass up. I researched this type of deal for a few weeks leading up to the closing and negotiating it, whats success without failing. What was the worst thing that could happen...they say no.

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

I found this deal while looking up comps in the area speaking with another lead on the phone. I saw that it was in a deceased persons name. The surviving spouse, once I skip traced his phone number, felt stuck with having to pay the mortgage alone and then falling behind on his bills slightly. When I heard that I told him that I can take this off his plate in 10 days if he was okay with moving within that time. He jumped at the opporunity.

How did you finance this deal?

Loan assumption and out of pocket cash.

How did you add value to the deal?

Replaced the windows, HVAC, thorough cleaning & paint

What was the outcome?

Despite the loss of a family member, the widower and son moved into an apartment and actually hugged me for giving him a new start on his life. THATS WHAT REAL ESTATE IS ABOUT. Yes I got a killer deal, but I helped a family turn the page into a new chapter of their life with my own knowledge and creativity. Nothing beats that feeling.

Lessons learned? Challenges?

God opens doors for people in order to help others. Learn to listen in negotiating and look to solve problems more than you look to WIN.

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

Lawyer and accountant.

@Jamie McCauley congratulations!!!

Join the facebook group. we are here to highlight our investors and promote our deals. Making real estate REAL! -Jamal King 

hey @Zachariah Millner I live downtown and currently house hack. If you have any questions feel free to reach out and you can join our REIA group in town.

Nice job mike !!!

Hey guys we have a goal setting group that meets every Friday morning 7am at Market at Main. Feel free to join us. 

DM me and I’ll give you guys my number to connect. Hopefully we can offer you some more people to connect with. 

hey @Daevion Poindexter look up max maxwell