All Forum Posts by: Nickolas Quartez

@Genny Smith

Jokingly enough on April 1st 🤣

@Gregory Schwartz

I applied for it. I didn't expect to get it cause I didn't need it but I just wanted a back up for in case.. Last night I saw a number on my bank account of which I knew was incorrect so after a little more digging, I noticed that I did receive it. It might come in handy. If not, I'll just give it back.

@Michael Ohara what are the options you're offering? I'm in the similar boat in terms of buying, fixing and renting out in MD.

@Grant Schroeder is he over 18? ;)

@Andrey Y.

The company he worked for never paid any pension for any of their employees and years later, when things started to surface, it just disappeared into thin air...

Lol, when I read the title, the first thing I thought was why? It's dead already lol.

I'm not so much afraid. I have a few buy and holds under my belt with my father and we bought when the market was good (2011).

My next step is to venture out by myself without using my existing properties as those serve as my father's pension (he got screwed over bad in Europe)

I do see deals. And dang do they make sense! But (and here it is), I am limited in my network. Yes, bigger pockets is the solution for that yet, who can I trust? Not to step on toes but it's quite shady in SWFL :(

Investment Info:

Single-family residence fix & flip investment in Fort Myers.

Purchase price: $40,000
Cash invested: $12,000
Sale price: $90,000

The little house of horrors was bought from a man that was being deported and wanted to sell. Unfortunately, the market was really not in his favor. We, (My father and I) sat and listened to his story. The house was listed at 25k but due to our background and travel history, we decided to give him a little more.

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

It was just so cheap, we couldn't refuse.

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

It was on the mls

How did you finance this deal?

cash

How did you add value to the deal?

The value was not only in monetary form for me.
My father is an architect, electrician, carpenter, plumber and knows pretty much everything in regards to construction. This was my time to learn.

Lessons learned? Challenges?

The whole remodel took 3 months. We ripped out and completely redid the kitchen, bathrooms and living room. We added an extra bedroom, replaced the big wooden beams of the carport which were rotten and he also taught me how to do the AC/Duct system in a house with no attic and boy, IT WAS ONE HOT SUMMER!

Investment Info:

Single-family residence fix & flip investment in Fort Myers.

Purchase price: $40,000
Cash invested: $12,000
Sale price: $90,000

The little house of horrors was bought from a man that was being deported and wanted to sell. Unfortunately, the market was really not in his favor. We, (My father and I) sat and listened to his story. The house was listed at 25k but due to our background and travel history, we decided to give him a little more.

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

It was just so cheap, we couldn't refuse.

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

It was on the mls

How did you finance this deal?

cash

Lessons learned? Challenges?

The value was not only in monetary form for me.
My father is an architect, electrician, carpenter, plumber and knows pretty much everything in regards to construction.
This was my time to learn. The whole remodel took 3 months. We ripped out and completely redid the kitchen, bathrooms and living room. We added an extra bedroom, replaced the big wooden beams of the carport which were rotten and he also taught me how to do the AC/Duct system in a house with no attic and boy, IT WAS ONE HOT SUMMER!

Investment Info:

Single-family residence buy & hold investment in N Fort Myers.

Purchase price: $90,000
Cash invested: $10,000

Single Family Residence

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

I had to do a 1031 exchange and this was really the best option out there with the knowledge I had at that time

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

I found it on the MLS and dropped the price with 20k

How did you finance this deal?

cash

How did you add value to the deal?

Ability to close quickly without inspection

What was the outcome?

I think I had a good deal

Lessons learned? Challenges?

Challenge: Learning to be Bob the builder and learning that construction is a lot easier than expected.

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

No.