All Forum Posts by: Melissa Murphy

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,000
Cash invested: $53,000
Sale price: $176,000

Opportunity to add value after distressed seller. Purchased at auction owner occupied.

Investment Info:

Single-family residence fix & flip investment in Spokane.

Purchase price: $132,000
Cash invested: $40,000
Sale price: $222,500

Fix and Flip

It's October meet up time! This group is a combination of active conversation among the community members, sharing ideas and resources, listening to speakers with various expertise in real estate, educational materials and reference from real estate books and resources and evaluating real estate deals. Also, drinking wine and eating appetizers.

Welcome to BP! You will love this wonderful community! Always happy to connect to discuss real estate, if you want to talk shop!  Again, welcome!

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Cap rates alone can be deceiving since an owner could have deferred many necessary repairs, and their effective cap rate would be higher than an owner who is consistently improving and upgrading a property. Anything over a 7 cap is gone in seconds, 6 caps are rare, and 5 is more common, but again always verify verify verify the underlying numbers provided. A 4 cap that has recently had a lot of capital improvements would make sense in the right location, perhaps not one that then required a lot of CapEx.

@Derek Raivio sounds like an awesome project!! Can’t wait to see it come together!

Thank you both!

Anyone have a recommendation for a water submetering system for a small multi family property? I recall one being sponsored on BP before. Thank you!

@Brandon Ely, a 1031 can be used across state lines. The only requirement is it must be real property and the property must be of an equivalent or greater value than the property you are selling through the exchange. Also, it must have truly been an investment property. I have clients at times ask about second homes. Must be investment property.