All Forum Posts by: Philip Arthur

Facebook Group:

The MOVIE Buzz | Mid Ohio Valley Investing Entrepreneurs

Fcebook Group:

The MOVIE Buzz | Mid Ohio Valley Investing Entrepreneurs

Hello! I wanted to extend an invitation to any folks out there who are investing or interested in investing in the Mid-Ohio Valley. End goal is to create commerce and have a network of investors, contractors, and lenders for us to share knowledge and grow together. As many people know, this industry is just as much reliant upon your network as it is your wallet so PLEASE come join the group and let's bring quality, affordable housing to the great people of WV.

https://www.facebook.com/group...

@ Michael Colebank - I have a similar group for the Mid-Ohio Valley. Just a suggestion - I would make some rules and make folks answer a few screening questions to be accepted into the group. If not, you'll have every RE Agent listing their MLS properties on there which will dilute the content.

Anyone interested in investing in the Mid-Ohio Valley? (Marietta, Parkersburg, Vienna, areas?)

https://www.facebook.com/group...

Hey Everyone! I am looking to invest around the Morgantown area as well. Look forward to networking with you all!

@Eric Gallagher

Welcome Eric! I'm from the MOV myself. Are you looking for deals currently? I have two single family homes in Vienna that would be great BRRR's. Let me know how I can help!

Investment Info:

Mobile home buy & hold investment in Groveport.

Purchase price: $75,000
Cash invested: $25,000
Sale price: $148,000

My first BRRR project. I learned a LOT of lessons (mainly on what NOT to do on this project). A great learning experience, cash flow producer, and fantastic addition to my portfolio.

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

This was my first BRRR project.

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

This deal came across a local investors FB page.

How did you finance this deal?

Utilized owner financing for the purchase and out of my pocket for the rehab.

Lessons learned? Challenges?

Given the condition of the home, I should have gutted to the studs. I ended up finishing everything and then ran into plumbing and electrical issues. Had I gone about it the proper way, it would have saved me at least $5000. Lesson learned!!