All Forum Posts by: Reno Puente

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $25,000

4 bedroom (converted garage) 2 bath around 1500 square feet.

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

I saw the ARV to be around $150,000.

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

Found this property, driving for dollars. It was a semi hoarder house. Very aggressive negotiations, it was all about the numbers for me.

How did you finance this deal?

Paid Cash. Rehab was also cash and credit cards.

How did you add value to the deal?

Paint inside & outside with new siding, roof, trim

What was the outcome?

Rented the house for $1450.

Lessons learned? Challenges?

This took a week longer than expected to rent.

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

Yes, I HIGHLY RECOMMEND MY REALTOR. It's me and my wife.

Howdy Bigger Pockets Peeps,
I'm looking for some different ways to approach property owners with Tax Liens, while I'm on their front porch. I do a combination of yellow letters, various postcards, door hangers and door knocking if it is occupied as my marketing. Of course I get a couple of YES I WANT HELP, but for the most part they say, I got it taken care of, get off my property, etc. I just want to have a couple of good one liners or elevator pitch script to get their attention. Thanks in advance.

Is this ryan Sweeney from the St Luke Lion Kings? 

I would be interested. 

@Kyle Spearin thanks. I just finished another one that I will be posting soon. How is the Denver market?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $25,000

Great rental property with 4 bedrooms and 2 baths. Needed a lot of cleanup.

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

This deal just kind of happened to pop up on our radar and just got lucky.

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

It was a previous client and friend. We just asked them how much would it take. They said that it was going to foreclosure and wanted a little money for themselves.

How did you finance this deal?

We used all cash for the purchase and rehab.

How did you add value to the deal?

We put a new HVAC, roof, siding, and updated the bathrooms, along with a complete paint, in and out.

What was the outcome?

We rented it and then refinanced it. It appraised for $50,000 more than I expected.

Lessons learned? Challenges?

Stay on your contractors.

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

We are licensed agents and property managers, so we didn't use anyone else. We ended up showing the new tenants within 2 days.

I recently did a mail out and got a great lead for a 50 unit apartment complex in San Antonio. I have not done such a big project and looking for a couple of partners. The property is in San Antonio Texas. I am an investor for SF and some commercial along with property management. This would be my first medium size investment. Looking for some advice, partners, etc.

 couldn’t make it. Is there going to be another one?

I’ve joined all of them and seem so find each one unique. I still get little nuggets from each of them. I sometimes don’t have time to go to all of them but it give me an excuse to get out of the office and network. I’ve even enjoyed the smaller networking groups that are niches in real estate. I am trying to start a CREIG, cigar real estate investors group. 

First, I think you way overpaid for that house. How did you buy it, fsbo, wholesalers, agent? The tax value shows $90,000. The second is that in MlS it shows agent commission less than 3%.