All Forum Posts by: Paul Juell

Hey guys, I'm not sure how this works with the tickets... I will be in SD on Monday. That is the most relevant day for me as far as the schedule goes. Does anyone have an extra ticket or a friend that will be preoccupied on Monday, LOL. I really would like to go!!!

Investment Info:

Single-family residence fix & flip investment in Tucson.

Purchase price: $237,500
Cash invested: $70,676
Sale price: $335,000

Definitely a full rehab! Needed just about everything but still made a bit of money at the end. My numbers reflect all the costs; rehab, selling costs, money costs, etc.

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

This deal came to me as a referral from a hard money lender.

How did you finance this deal?

I used hard money for this deal. Only closing costs came out of my pocket in the beginning, I did the remodel with a 'draw' but I did have to do repairs on my dime and get reimbursed with the draw.

How did you add value to the deal?

There was an area that was being used as a bedroom. We made it a proper bedroom with a closet and it's own heating/cooling. Otherwise, normal rehab stuff.

What was the outcome?

We made some money, moved on to the next one.

Investment Info:

Single-family residence fix & flip investment in Tucson.

Purchase price: $285,000
Cash invested: $82,000
Sale price: $420,000

My first 'Big' remodel. I had done a mostly cosmetic rehab as my first project (Blue Wing Dr.), but this one needed a lot of work! Overall, the house was not bad structurally, just very outdated, a lot of pet damage, and a little more colorful than I would have preferred.

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

This home is in an established neighborhood that I am very familiar with.

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

This deal came straight from the MLS. We got the seller down a bit from asking price and went from there!

How did you finance this deal?

This was a hard money loan (very expensive, but could not have done it otherwise).

How did you add value to the deal?

We removed and/or opened as many walls as possible, removed an old fireplace and several built in wall units for space and an open feeling. Added a closet and a door to an extra space to make this the only 6 bedroom house in the neighborhood. Otherwise we did what you would expect; carpet, tile, paint, cabinets, granite, new appliances, fixtures/hardware, etc.

What was the outcome?

We ended up spending about $10,000 more than the budget, but sold it $20,000 above asking price in just a couple of days!

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

I am a Real Estate agent in Tucson. I collected a commission on the purchase and the sale of this property.

Investment Info:

Single-family residence fix & flip investment in Tucson.

Purchase price: $285,000
Cash invested: $82,000
Sale price: $420,000

My first 'Big' remodel. I had done a mostly cosmetic rehab as my first project (Blue Wing Dr.), but this one needed a lot of work! Overall, the house was not bad structurally, just very outdated, a lot of pet damage, and a little more colorful than I would have preferred.

I can't post many photos here, but some highlights:
1. The front door opened in a way that made the entry look tiny. So I switched the door to open towards a wall that was going to be removed. Now instead of looking down a skinny hallway it opens to a very open space.
2. We added a closet to turn this from 5 bedrooms (common in the neighborhood) to the only 6 bedroom in the area.
3. Of course, we opened up any wall and doorway we could.
5. Main living room had an old fireplace and built in wall units. We decided to remove those in an effort to make the area bigger. It made a huge difference!
6. The previous owner had built a brick wall in front pf the carport (???) so we removed that and the sliding gate attached to it. We then had to build a fence to block off that side of the house.

Otherwise, pretty much normal stuff; paint, flooring, cabinets, doors, fixtures, etc.

We spent about $10,000 more than we had planned but in the end, we sold it in just a couple days for $20,000 above listing price.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $240,000
Sale price: $250,000

This was a simple wholesale deal. Came to me as a referral from an agent I had previously worked with.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $64,000
Sale price: $104,000

SFR that had been abandoned for roughly 12 years.

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

I was looking into wholesaling for about a year or so and this was the first that actually went through.

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

This was owned by an asset company. Took a lot of research to get. After the original owner (a local investor) went bankrupt the Bank took over ownership. Then the Bank went bankrupt and all assets were sold off. I was able to get the property from the asset company.

How did you finance this deal?

No financing, this was a wholesale deal, I never closed on it.

Lessons learned? Challenges?

This was a deal with a lot of title issues. I definitely have been more diligent with getting through the entire title process during the inspection period.

I am looking to hire a virtual cold caller. Does anyone have any recommendations on reputable companies and/or a reference?

I have recently re-activated my Real Estate license. I have every intention to invest and wholesale as well. I believe that the main thing is to disclose everything to potential sellers. For example, let them know that; you are licensed, you intend to make a profit, and you are buying as an investor. 

There are several large Real Estate teams in Tucson that are very active flippers/wholesalers. So it is possible, but definitely check with your broker

So I posted this question yesterday. I got zero response. I feel like this is a relevant question... I'll try one more time.

Hi, this question may be more towards the Realtor(R)s in the group, although we all need to get reviews and recommendations.

Asking a customer/client for a review is essential, but we are asking them to spend a fair amount of their time to do it. Of course, hopefully we are giving such great service that they are happy to do it. My question is this: there are multiple sites that are relevant; Realtor.com, Zillow, and Google.

Is it necessary for the client to review on each site? Is there an app that will post reviews to multiple sites so they only have to do it once?

How have you been able to get reviews and still make it easy for the client to do it? Do you send them a link(s) by email?

Thanks everybody. I am looking for ideas. As you know for any of us reviews are absolutely essential. It's the way we all make purchase decisions now days.

Hi, this question may be more towards the Realtor(R)s in the group, although we all need to get reviews and recommendations.

Asking a customer/client for a review is essential, but we are asking them to spend a fair amount of their time to do it. Of course, hopefully we are giving such great service that they are happy to do it. My question is this: there are multiple sites that are relevant; Realtor.com, Zillow, and Google.

Is it necessary for the client to review on each site? Is there an app that will post reviews to multiple sites so they only have to do it once? 

How have you been able to get reviews and still make it easy for the client to do it? Do you send them a link(s) by email?

Thanks everybody. I am looking for ideas. As you know for any of us reviews are absolutely essential. It's the way we all make purchase decisions now days.