All Forum Posts by: Randy French

Casper area has some good investments if you connect with the right people.

I actually purchased the property in February of 2018.  I have since moved out of Wyoming.  My first year was not fun and actually thought about giving up on it.  I went through 3 very bad property managers before I teamed up with the one I am with now.  Since then, l haven't lost any sleep.  I have very low vacancy rate and no issues to deal with.  I just completed a refi and increased my cashflow by about $180 a month which puts my at approximate $1200  month.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $127,000
Cash invested: $35,000

My second investment is a townhouse in SW Casper, WY.

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

I was looking for a 2nd project in the Casper area that fit the cash I had to make it work.

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

I found the deal through my realtor who was also the realtor for the seller. My realtor knew how much cash I had and he worked it out with the seller to make the deal work.

How did you finance this deal?

25% down and financed the balance through a regional bank.

How did you add value to the deal?

I completed some of the minor repairs that were needed to get the property one the market.

What was the outcome?

I completed the deal very smoothly

Lessons learned? Challenges?

Lessons learned are the second deal is less stressful than the first. The first was very personal. The second became a business deal to move me up. No challenges really.

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

I worked with my realtor, Dennis Langdon and the banker was Dave Maxner at First Interstate Bank in Casper, WY.

Investment Info:

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

Purchase price: $443,000
Cash invested: $140,000

Newly constructed 4-plex apartment building on the north side of Casper, Wyoming.

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

I had been working with a realtor for several years and finally had the money to make it work.

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

I worked the deal through a realtor friend. He got the construction loan and built the project, then sold to me.

How did you finance this deal?

25% down, financed the balance through a regional bank.

How did you add value to the deal?

I did not. This was new construction.

What was the outcome?

Completed purchase of the project.

Lessons learned? Challenges?

Lesson learned was trust your mentor. Biggest challenge was being a newby and lack of confidence. My mentor got me through it.

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

I worked exclusively with Dennis Langdon, who was the realtor and developer. Dave Maxner at First Interstate Bank in Casper was my banker. I would recommend those two as a team to work with in Casper for multi-family investments.