All Forum Posts by: Patrick Wheeler

@Ken T. You should definitely reach out to @Taylor Johnson and @Lior Rozhansky. Taylor actually helped Lior close on a house hack and they are very experienced with helping new buyers.

@Brian Pulaski This was my first flip deal so I'll have to consider using the same strategy again. I have an agent selling my next flip, which I just started and it should be completed right around the beginning of spring so hopefully the strategy will work better this time around.

@Nick Foundas I definitely could have done a better job at seeking out feedback as I didn't receive all the much to begin with. Most people really liked the home, but did not offer many specifics. One thing that definitely hurt us was installing electric baseboard upstairs in the bedrooms and bath (don't ask me why, it was a surprise to me and my fault for not talking that through with my GC lol). I think the winter market was a factor as well. Had a ton of traffic, but few offers.

Good call on the total room count, definitely missed that..lol

@Brian Pulaski Thanks! Yes, the idea was to create a multiple offer situation, which didn't really occur unfortunately. I was able to negotiate one of the offers to over asking, but still pretty short of our target. The other offer was extremely weak. We at least did very well with the budget, ended up right around where we projected. Still waiting on final draw from lender and need to see how much left my GC needs. Should ultimately be right on or come in a little under.

Project Update

Little late with this post, but we have finished renovations and the property is currently on the market. Had a good turnout with open houses, but only received two offers. Here are some pictures of the finished product. What do you all think!?

@Jahan Habib Since I partnered with my GC on this deal, I spend maybe 30 minutes a week on this deal. I usually stop by on the weekends to check in on the progress and take pictures for documentation. It's definitely a fortunate situation, but since I work full time right now, I have intentionally structured it this way.

@Daniel Ortiz They have a website which can be found here.

@Jennifer Ouch It definitely seems like a great program from what I remember about it (looked into it a while back) although I never fully dove into it. Definitely keep us updated on your experience with it. I could see it being a potential financing option for myself down the line!

@Shamar Miller Are you expecting to obtain 100% financing, or just simply using that to run your numbers conservatively? Multifamily? If you want/need to close quickly, start looking at hard money lenders. Can start looking for them on BP here. Then start asking everyone you come in contact with if they have referrals for the other people you are looking for. I found my GC through my hard money lender and its worked out great so far.

@Dan Weber If you end up needing a third option, let me know. My CPA is out of Dedham, but deals remotely. I wouldn't want to handle those filings either! Lol

@Vladimir Kononenko Welcome to BP! If you prefer buy and hold, I would suggest looking at properties a certain radius outside the city for deals. Furthermore, I would focus on distressed properties that you can BRRR. That's essentially what I'm doing right now, while flipping anything that doesn't make sense to hold.

Welcome to BP @Anthony Cruz. I would suggest getting into multi-family properties. Start reaching out to people on here who are from the part of Central Florida you will be moving to.