All Forum Posts by: Michael Thigpen

Thank you for the support already gents. I'll send follow-up correspondence to see if any fit for the opportunity. Thank you again for reading and replying. 

Afternoon Private Lenders,

I'm Michael, previous Army Vet and recently moved from 10yrs in corporate IT leadership to licensed real estate full-time about eight months ago in Phoenix, AZ. This is my second residential luxury renovation project, as I completed my own Scottsdale remodel in 2018 converting a dated 1969 1800 sqft. 3-bed, 2-bath home into a 3000 sqft. 3-master suites, 3.5-bedroom with pool and separate 1,000 sqft. shop on a half acre lot. You can see pictures on my real estate site of the before, progression and after photos. I purchased this property in 2015 at a opportunistic growth purchase price that has created double its equity from the renovation design we incorporated. This project surrounds several million dollar homes and NFL/MLB names. I've worked hard for all my educational and strives after the military, and hoping to make my dreams of being an self-employed entrepreneur come true. On a side hobby, I also rebuild classic mustangs and hence the company real estate name. 

www.mustangmikerealty.com

I'm fully invested into residential real estate along with my long time family friend that has invested into properties with me over the years. With recently starting my real estate business, I'm not able to tap into equity line funds quite yet without the two years history and also have allocated my SDIRA funds into the procure, design phase and holding expenses of our new investment property in Phoenix, AZ. 

We procured this new investment property Dec. 28, 2018 in highly sought after neighborhood in Uptown, Phoenix AZ with mountain views from the front and back of the property. We have already started the drafting of plans for permitting, itemization of renovation costs and can share our investment package which illustrates our anticipated ARV, construction costs, est. closing and provides a preliminary negotiable interest rate to a private lender to help us fund our renovation cost of the project solely.

In recap, my business partner and I already have acquired the property, worked on estimates for the entire renovation, permits and formal plans are underway with our drafting company and we are seeking $140K in funding to allow us to complete the luxury renovation. We already have established relationships from previous projects with licensed sub-contractors that have already been engaged on estimates or supporting with permits. This residence's location is close to Scottsdale, Arcadia, Paradise Valley, Downtown Historic District and much more, with home values from $250K to $3M in appraised values. I've worked a solid deal as the agent in the procurement of this home that has allowed us strong potential ARV returns.

Please see our recently published article that shows the property, discusses the current progression and illustrates the floor plan for the conversion adding 1,675 additional square feet to the property. We are newer, but --- professional, experienced and looking for support/help to get our business rolling. We hope to build a relationship with a private lender that can be long-term and lucrative for both sides. AKA someone to see our quality/integrity and give us a opportunity.

Thanks for taking the time to read and apologize if a bit long in details. If interested in working with us on this opportunity, please let me know.

Michael T. 

Thanks Nick for the feedback.

Hi Everyone.

It has been great moving slowing into the Real Estate realm from Corp. America. I'm currently working to find my first investor property to fix, flip or maybe hold,  but also working to get some newbie brand exposure. If anyone knows of a investor or realtor with some extra work that willing to help me gain my first listing in the Arizona market. Much appreciated. I'm working the social media, local marketing, but still struggling to find that first listing opportunity.

Ex. Army Veteran turned enterpenuer, so any support and help is always appreciated. Any feedback or advise is also always valued. So far I've placed some ads and I'm waiting on my door hangers and yard signs to arrive to also try some other marketing tactics.

My website is: www.equitygrowers.com

Thanks for any advise, referrals or help BP family,

Michael T.

Wanted to start the journey with a hello after joining BiggerPocket. I’m Michael from Scottsdale, AZ. A recent IT Executive that has moved into new path of real estate investing. I’ve had success with buying and selling my own five (5) home over the years and found a real passion for general contracting, design and seeing a vision behind the initial disaster. I’m more focused on buy and hold with multi-units (4 to 5 units) and potentially some fix and flips. I’m starting with gaining my real estate license in the next couple weeks. In the interim, I’m looking for my first property to purchase and hoping to find a multi-unit. If anyone has advice for the AZ market or best ways to find solid pocket deals for fixers that are in good locations in the AZ market, please let me know. I’m also considering the St. Louis market for fixers being from the area.

Excited about the future and looking forward to growing some new networks. Always open to discussing or if you have a opportunity this newbie would be appreciative. Have a great day and week everyone. 

Michael