All Forum Posts by: Nick Dibos

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $230,000

Cash invested: $14,711

Successful BRRR!!! We purchased the house for $230,000, spent $14,711 on the rehab, and it appraised for $316,000! We had a tenant move in the day after our renovation was complete and we have good cash flow! All around a great success! Now the money is back in our pockets for the next one!

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

Great location, dated home.

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

MLS

How did you finance this deal?

construction loan, 15% down

How did you add value to the deal?

quick close (<3 weeks), sold "as is"

What was the outcome?

Successful BRRR! Great tenants, money back in our pockets

I have an attorney friend looking to purchase his (and his family's) first home this spring - does anybody have any good recommendations for lending that allows him to take advantage of attorney-specific lending (high student debt)? I know that the 'JD  Mortgage Loan' is one of the loan products....just need a lender that works with these types of clients :)

I am going into a deal for the first time with some friends/business partners.  We are shopping for a 4-8 unit apartment complex in Kansas City where I live.  My partners live across the country in Oregon.  While they will be involved as much as possible, their primary contribution is the connection to unusually great financing (through family and family friends).  We are trying to structure the deal financially based on each members contributions.  I will be self-managing the rentals, renovating/updating when necessary, handling all tenant affairs/calls/etc, and physically maintaining the property - however I will be coming in with little or no money.  We all share a similar level of experience as landlords however I have fix & flipped three times as many homes as they have - so I have better sense of confidence with repairs/contract pricing/construction/renovation budgeting/etc.  How would you structure this partnership?  1/3 ownership to each partner and charge by the hour for my work as the property manager/handyman? 50:25:25 - since they are the money and I'm the one running the show locally?  Vice-versa? Any and all ideas are welcome and much appreciated!!! Thank you!!!