All Forum Posts by: Patrick Winn

Love it!

Way to go you guys. Are y’all putting at money into a high interest savings account to compound that wealth?

Also you can pay your kiddos for property management like this. 

Entity 1, pays entity 2 which pays your children ‘x' amount of dollars for property management (which is a write off) and then you can put that money into a Roth IRA for them.

Well done, what’s next for y’all in terms of investing?

- PW

Investment Info:

Industrial buy & hold investment.

Purchase price: $1,000,000
Cash invested: $45,000

30,000 square foot industrial multi-tenant property in the heart of Fort Worth, Texas.

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

Wealth generation, offsetting tax liability through Cost Segregation and future cash out refinance to buy more investments like it.

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

It was a referral from a friend in my sphere to a lady whose father passed and he left it to her.

How did you finance this deal?

My banker

How did you add value to the deal?

It's a long play but the plan is of course to raise the rents through adding value where we can as well as editing the leases to be more landlord friendly.

What was the outcome?

small cash flow now but very high future upside.

Lessons learned? Challenges?

be patient, open and honest from the start.
It is much harder to be honest later in the dealings.

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

My team

Investment Info:

Industrial buy & hold investment.

Purchase price: $395,000
Cash invested: $40,000

Commercial flex space building I bought as a challenge from a buddy of mine.
It was a HUGE learning experience as my first commercial deal but I wouldn’t change it.

I just finished a cash out refi on it this week. By doing that I lowered my payment by $150/m and put $40,000 in my pocket tax free.

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

My buddy said I couldn’t do a commercial deal

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

I found it on loopnet or crexi

How did you finance this deal?

with my bank

How did you add value to the deal?

at this point I have kicked out tenants, revised leases to be more landlord friendly, pulled an insurance claim to redo the roofs on both buildings, the garage doors, all the siding and then I spent my own cash to remodel the inside of the larger one while vacant and the tenants have remodeled the smaller one.

What was the outcome?

Being able to get the building stabilized for a refinance.

Lessons learned? Challenges?

The obstacle is the way

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

My Team

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $215,000
Cash invested: $5,000

Duplex I purchased ‘as-is’ in 2023 and still have not had to do much of anything to it.
We treat our tenants very well and do a good job placing them and in turn they stay.
We negotiated some plumbing work and a new roof on it before we closed.

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

Cash Flow

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

It was on the market and not selling

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Treating tenants well and working with them.

What was the outcome?

Steady cash flow

Lessons learned? Challenges?

Being loving and honest with tenants will go a long way for you.

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

My Team

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $235,000
Cash invested: $30,000

Duplex I bought for my son in Cleburne, Texas.
Buying them for my children helps me deal with the crap that sometimes comes up instead of selling them too quickly.

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

Cash Flow and future wealth

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

through an agent I had done a deal with in the past

How did you finance this deal?

Traditional mortgage

How did you add value to the deal?

Evicting the tenants and upgrading the floors, counters and paint.

What was the outcome?

one of my best ROI properties to date

Lessons learned? Challenges?

Evictions aren’t that hard but a manager can save your life.

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

My team

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $232,000
Cash invested: $30,000

Duplex for my son in Cleburne TX.
This is one of my best cash flowing/ROI properties.

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

Cash Flow

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

Through an agent I did a deal with in the past.

How did you finance this deal?

Traditional mortgage

How did you add value to the deal?

Evicted the tenants, cleaned it up and raised the rents.

What was the outcome?

Cash flow

Lessons learned? Challenges?

Evictions aren’t that hard

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

My team

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Joshua.

Purchase price: $400,000
Cash invested: $90,000

Three duplex on the same street.

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

Cash flow

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

It was on the market but the seller had to sell them all at the same time.

How did you finance this deal?

Hard money

How did you add value to the deal?

Full gut and remodel. Everything from roofs to HVAC’s, windows, flooring, siding, electrical.

What was the outcome?

We increased the rents from $525 per unit when we bought to $1,350 per unit today.

Lessons learned? Challenges?

Do the work

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

My team

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Fort Worth.

Purchase price: $150,000
Cash invested: $80,000

Still own and cash flow

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

Buying my time back / Cash Flow

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

It was an expired listing and I called the past listing agent until I was able to get into it and make an offer.

How did you finance this deal?

Hard money for the acquisition and rehab and then I did a refi into a permanent loan product.

How did you add value to the deal?

Gut and remodel.

What was the outcome?

I have great cash flow 6 years later

Lessons learned? Challenges?

Too many to list.

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

Just my team.