All Forum Posts by: Paul Weathers

Yes, absolutely!  Just let me know when it’s convenient for you.

Hi Chris, happy new year! I’d love to help you and your wife find a house here in the Phoenix area where you can the hack your way to prosperity. 

Paul Weathers | Realtor®

My Home Group

480-720-0742

[email protected]

Investment Info:

Single-family residence buy & hold investment in Pensacola.

Purchase price: $41,000
Cash invested: $66,000

Coastal Bungalow with laminate floors throughout, 3BR/1BA with LR, FR, Clean Kitchen with breakfast bar, (2) brick fireplaces. Low maintenance yard, with brick patio in backyard. Close to Pensacola's core business areas- 3.5 miles from Downtown, 9 miles to Pensacola Naval Air Station. Purchased property via a Tax Deed Sale for $41k, full renovation of $25k...$66k All in....cash flows $1100/mo.

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

Close to downtown, close to Naval Air Station, close to beaches.

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

Tax Deed Auction (winning bid)

How did you finance this deal?

Cash

How did you add value to the deal?

Full renovation property renovation

What was the outcome?

All In...$66K....cashflows $1100/mo....net cash flow after all expenses (taxes, insurance, property management, lawn service) is $686/mo.

Lessons learned? Challenges?

Finding a good contractor was difficult. I finally found a good one, he was small 2 person operator...so he didnt have a lot of overhead to "bloat" the price of the project. It took a little longer than expected, but totally worth the extra time.

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

Realty Masters of Pensacola is the property management group I use and they have been fantastic to work with and has been an invaluable resource for me.

Welcome Jason!  I’m a Realtor here in Chandler, an investor, and Bigger Pockets advocate...is would be happy to chat and network.

Way to go Cam! What a great testimonial of creative financing, capitalizing on the opportunity with respect of being honest and up front with the estate owners, and the perseverance to get your first BRRRR up and running! Love the before and after pics too! Keep up the good work!

Great Job Steven!  Love that you guys had the vision to bring this “tired” looking house into a vibrant, fresh looking home!  Congrats!

Hi Miles, I would be happy to help your mother find a home here in Phoenix. She can have free access to all current properties in the MLS from my website to browse around before she visits. Let me know how I can help, I'd love to earn her trust.

Paul Weathers | Realtor | AZ Select Homes

@Matt McConkey Congratulations on your first buy & hold investment property!  It was great to hear about your patience in finding the right deal and having your "team" together when the deal appeared.  I "jumped in" early last year on a good deal and went through a remodel...but she's cash-flowing now!  It's a good feeling!  Best of luck hitting your 2018 goals!  Maybe we can meet up for some coffee sometime?  

Way to go Johnny!  I really enjoyed you "long post' of the deals and how you orchestrated the financing.  Well done!.  Best of luck on your closing on the 29th and for a prosperous 2018! 

Ori, congratulations on your latest deal in Oakland. I really appreciated the BRRRR explanation and step by step process you outlined. I just financed a property purchase and rehab and the BRRRR process sounds like a much better plan. Question: How much of your $800/mo cash flow is chewed up by Insurance and taxes?