All Forum Posts by: Ryan James

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $120,000
Cash invested: $25,000
Sale price: $183,500

SFR 60 day cosmetic flip including finishing basement and a new AC. Added egress window to basement to add bedroom and significantly grow sq footage. More information is available at https://coremarkhomes.com/before-and-after/

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

SMS Marketing

Investment Info:

Single-family residence fix & flip investment in Newark.

Purchase price: $175,500
Cash invested: $15,000
Sale price: $228,000

This property is located in an area 40 min north of where we typically purchase. This property did not fit our buy box, however, minor trim work, paint and punch out were all that were required here. We decided on a joint venture with a friend of ours who has established relationships w/ contractors in the area.

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

Launch Control SMS Marketing.

How did you finance this deal?

Private Lender

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $220,500
Cash invested: $25,000

SFR 60 Day cosmetic renovation. Added island in the kitchen.

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

The homeowner wasn't pleased with the service quality offered by one of the leading iBuyers in the area. He opted to sell to CoreMark at a slightly lower price.

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

Launch Control SMS Marketing

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,500
Cash invested: $15,000
Sale price: $228,000

This property is located in an area 40 min north of where we typically purchase. We typically stick to our buy box, however, minor trim work and punch out were all that were required here. The homeowner kept the property in great shape. We decided on a joint venture with a friend of ours who has established relationships w/ contractors in the area.

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

Launch Control SMS Marketing

How did you finance this deal?

Private Money

How did you add value to the deal?

Punch out and minor trim work.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $176,500
Cash invested: $95,000
Sale price: $485,000

We kept in contact with the homeowner for over a year before she agreed to meet and sell us this home. The walls we're covered in shag carpet for insulation and it was full to the brim with belongings on the day of closing. We used transactional funding to close on the property and paid for a trashout. One of our friends was able to purchase this property from us wholesale to complete renovation.

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

Friends with the homeowner.

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

Launch Control SMS Marketing

How did you finance this deal?

Transactional Lender

How did you add value to the deal?

Trashout

Lessons learned? Challenges?

We neglected to ensure we had an earnest money deposit from our first contracted buyer and they fell out last min. We pulled together the purchase price in cash within 48 hours of closing to ensure the homes smooth transition to its end buyer.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $25,000
Sale price: $183,500

SFR 60 day cosmetic flip including finishing basement and a new AC. Added egress window to basement to significantly grow sq footage. More information is available at https://coremarkhomes.com/before-and-after/

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

We had just met our first private lender and we're working to grow our balance sheet.

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

Launch Control SMS Marketing

How did you finance this deal?

Hard Money / Private Money

How did you add value to the deal?

Complete cosmetic renovation including new AC unit out back. Added egress window in finished basement to add a bedroom and increase sq footage.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $140,000
Sale price: $155,000

Shortly before we purchased this property, a vehicle veered out of control and crashed into the property. The impact destroyed the fireplace chimney causing structural damage in the basement. We ended up wholesaling this property to a friend.

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

Great neighborhood and motivated seller.

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

Launch Control SMS Marketing

Investment Info:

Condo fix & flip investment.

Purchase price: $87,000
Cash invested: $12,000
Sale price: $133,000

Homeowner facing foreclosure. Quick 2 1/2 week cosmetic flip. More information is available at https://coremarkhomes.com/before-and-after/

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

This was our very first deal and we we're not able to successfully wholesale it. Rather then backing out on the homeowner and risk loosing the property to foreclosure, we opted to take the project down ourselves.

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

LaunchControl SMS Marketing. Not well. We were soo fixated on price, we didn't learn that the homeowner was facing foreclosure. We now train our staff to listen for four pillars of motivation.

How did you finance this deal?

Hard money and private lender.

How did you add value to the deal?

Complete cosmetic renovation and one window.

What was the outcome?

More information is available at https://coremarkhomes.com/before-and-after/

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

One of the managing partners at CoreMark Homes is an active real estate agent and always does a great job getting our properties sold.