All Forum Posts by: Savanna Mayer

Investment Info:

Condo fix & flip investment in Honolulu.

Purchase price: $300,000
Cash invested: $54,000
Sale price: $480,000

Condo Fix n Flip in the Makiki neighborhood of Oahu. Deal sourced through networking, partnership flip approach, rehab was financed through a HELOC.

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

Word of mouth networking. Negotiated a "partnership flip" approach, where we provided expertise and rehab capital but never took title. After sale, seller received agreed upon portion of profits + "purchase price" -- we took the rest.

How did you finance this deal?

Used HELOC to finance the rehab.

How did you add value to the deal?

$54,000 full gut rehab.

What was the outcome?

Low inventory and high level of rehab compared to similar nearby actives led to multiple offers over asking price. Our accepted offer was $35K over asking. The outcome was a $96,000 net profit.

Lessons learned? Challenges?

We would have added an accent to the island face or a backsplash using mosiac tile to add some color & flair.

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

HC Construction (Oahu-based contractor), Christina Nishiyama (Engel & Volkers Real Estate Agent).

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $480,000
Cash invested: $45,000

6bd 2bth, rent-by-the-room house hack in Barnum West, Denver, CO.

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

Craig Curelop's book on househacking and tons of BP podcasts.

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

MLS, my agent James Carlson got our offer accepted & lender Jimmy Erminger closed in less than 21 days.

How did you finance this deal?

3.5% FHA loan.

How did you add value to the deal?

Egressed a basement window to code, expanded master bedroom, built island, added dishwasher, added new washer/dryer set, sewer repair, new electrical box.

What was the outcome?

A close to 40% CoC return, ~100% ROI if you consider loan paydown, rent savings, appreciation, and initial equity.

Lessons learned? Challenges?

Would make sure that tenant leases didn't end during the winter.

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

James Carlson (Agent) and Jimmy Erminger (Lender). Absoute ROCKSTARS!