All Forum Posts by: Lee Nugent

Hey Brandon, I'm in the Shreveport market and we have a few sub 40k properties. While they can cash flow well, I'd advise you to really dive in and learn the tenant profile for some of the areas that you'd find the rentals in. I have a management company, and some areas I won't manage in or send my employees to. We have had some vendors that refuse to work in certain areas for safety concerns. 

With that being said, if your budget can go a bit higher, I can introduce you to some lenders that will help you purchase/refi the properties. All the best in your search! 

@Cole Mrozek I’m also in Shreveport; fee free to reach out and let’s connect

@Leah Hall we have a meet up Thursday evening at line avenue pizza and brew at 6pm

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $55,000
Cash invested: $43,000
Sale price: $180,000

This one was a simple ranch style 3/2, cosmetic rehab. The numbers were good, with a projected sales price of 150k. The market was strong so we thought we would go higher at 170k on list; and within 2 days, had a 180k offer on the table.

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

We have been flipping for about 5 years; targeting high margins and keeping a number of other properties as holds.

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

Someone brought the deal to me in exchange for some coaching. The seller wanted 70k; we ended up on 55k

How did you finance this deal?

Cash purchase

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Sold for a net profit of 64k after fees (Including paying myself a listing agent commission)

Lessons learned? Challenges?

This was pretty much business as usual

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

I gotta say, the listing agent was amazing to work with (I was the LA)

Welcome to the Shreveport market @Joshua Wofford!  There are broad generalizations through Shreveport as "good" or "bad" areas.  What I would challenge you to think about is your particular strategy.  Do homes rent over there? Absolutely; and if cash flow is your goal, the right deal will bring strong cash flow.  If you are looking for flips, you will really want to sharpen your numbers and get some hyperlocal data to the house, within a quarter of a mile if possible.  Feel free to send me a message and I'll get you connected in to some of the local FB groups for investors

@Katrina Bledsoe good morning! I’m over in the Shreveport market; feel free to reach out if you’d like to connect

@Charity Johns I’ve done some a few subject to deals; I can point you to some attorneys to help with that if you like, just reach out

@Julia Stroud reach out and I’ll connect you to some developers that may be interested in the property; I’ll send you a colleague request

@Sean Rhodes I’m in Shreveport, in addition to managing properties, I also own a portfolio of rentals. With that being said, if you are interested, I can connect you to one of my agents and if you like them, great, if not, I can give you names of other managers in the area. Feel free to reach out

@Slimm Cutta I’m in Shreveport, reach out and I’ll see what the numbers look like and see if I can offer advice