All Forum Posts by: Nancy Brook

 Hi John - yes, I bought a condo earlier in July though my self-directed solo 401k. 

Yesterday was a great day!  I'm still so excited I cannot sleep. 

So first, my deals. I have a contract finalized on a Section 8 property that will be bringing in 20% net of expenses. I found it through postcard mailings. I was going to wholesale it but it's such a well-maintained property and has a four-year tenant that I decided to keep it. I'm buying it through my self-directed solo 401k. This will be the 16th house my boyfriend and I own. 😀

Next, I have some properties that have been under contract for a while. The five-property package has houses that need to be demoed and new construction built. It takes a special buyer to want to proceed. The first developer decided no and so I thought the deal was dead. My broker friend found another buyer and went to the county zoning board today to make sure the deal would fly. We should be closing next week. Cha-Ching!

Finally, I took the Florida real estate sales associate exam yesterday and passed. The test was not easy and I didn't feel prepared. I thought I'd have to retake it. But I passed! Yippee!

I live in Florida and Montana and am planning on getting my Montana real estate license next. The Florida work I will do virtually as I'll be referring prospects whom I find through my wholesale calls and who want to sell at a retail price. 

Still more to figure out but I just had to share my excellent day!

Are you open to Florida? I'm an experienced investor in St. Pete and am now licensed. 

How cool! Congrats on your latest deal. 

I have a contact who has a $60 million private investment fund. They will loan up to 70% of value. How much financing do you need? Are you putting in your own cash?

I know another investor who does transactional funding. Can you give us more specifics on the deals? We may be able to better guide you. 

I'm confused. Are you saying you got a discounted property on the MLS under contract and assigned it to another buyer for a fee?

Excellent and inspiring point of view! 

I agree that sometimes there are great things that happen by going to salesy seminars. I did a speaking retreat years ago for $97. Great free info but it was a pitch fest. The grand sale was $100,000 of private coaching. I've ways been curious about those who signed up. 

Oh, add a new light fixture too. That one looks dated.

Don't over-invest in a C neighborhood.

I'd paint the cabinets white. They will look fresh and nice. Add new knobs as suggested. 

Replace the countertop with laminate. You can get inexpensive laminate at Lowe's or Home Depot that looks like granite.

Backsplash - may be easier to replace than to fix the walls behind the tile and paint. I'd probably do a backsplash.

Used stainless appliances would be a nice touch. You will pay more than used white appliances but it will give the place an upgraded look. Very nice touch for a C neighborhood.

Paint the walls a subtle greenish/gray. We have used more designer feel paints and it really helps improve the look of our places and get them rented.

Replace the flooring with tile. That will last a long time. Better investment than linoleum, in my opinion. Though, I have used a nice grade linoleum in a couple of apartments because it's quicker to install.