All Forum Posts by: Shaun Brown

Giving myself a reminder that there are a bunch of deals on books right now. As an over thinker/analyzer its always helped me to get someone else's perspective on the problem I am trying to solve.

This is my haul from the black Friday sales going on right now.

For sure. The other thing to mention is that you are going to find way more off market rather than competing with all the people that are driving the price up and are making emotional buying decisions. Im just getting started too... keep in mind that creativity is how you might be able to turn what others find to be a terrible investment into a home run.

I really enjoy the bigger pockets books there's one that covers long distance real estate investing and they are all on sale right now. I picked up 3 today.  I saved a few additional bucks getting them on Amazon rather than bp.

@Rodney Sums Yes I would probably take a second position mortgage to keep the monthly payment as low as possible and hope that whatever the next property cash flows would cover the cost of the 2nd mortgage.

I think this actually makes the most sense after the thought put into making this post. funny how back and forth I have been on how to move forward.

I just started today on this very topic. 

I have a 200 dollar HP 9015 printer and i did exactly what @Andrew Tucker said to do. everything lines up right and I can write in the owners name with the same pen I used on the master copy and you cannot tell the difference.

I even went a step further and scanned my handwriting for the return address on the envelope so now the only thing I have to write out is the owners name and mailing address.

We are just getting started so 12,000 mailers is probably out of our league until we figure out our systems.

I am in the same boat. North Phoenix property extensive rehab lived in for 2 of the last 5 but im carrying a 2.25% rate which makes it a cash flowing rental potentially.  

I'm conflicted on realizing equity through debt or selling. 

Hi, Whit. I sent you a PM

Mick, looks like we're at the same brokerage.  Thanks for the encouragement!

Investment Info:

Single-family residence fix & flip investment in Phoenix.

Purchase price: $252,000
Cash invested: $50,000

Long term live in flip in Phoenix, AZ. Home sat on the MLS for 100 days in a time where things were selling in a day or two.

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

I wanted to begin investing in real estate and I thought owning the right home would be able to transition me into the industry. I had heard about all of the rapid equity people were building in the area and thought I was missing out by renting.

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

I found this deal on the MLS. I am an agent so I represented myself in the negations. The house was sitting on the market for a long time so I tried to get a 5% discount on the asking price placing the home in the range of other homes that were in the neighborhood without being renovated. The home was owned by OfferPad which is a company that buys homes from owners and then resells them after painting and installing new appliances.

How did you finance this deal?

30 Year VA. Zero down. Rehab was paid for by several means to include: Savings, Real estate commission, credit cards, and a personal loan.

How did you add value to the deal?

This home had not been updated since it was new so I renovated the kitchen and bathrooms to be more functional. and had new flooring put in throughout the entire home. This was a fix and flip spread out over 2 years.

What was the outcome?

I currently live in the home. Through no effort of my own the neighborhood has appreciated in value roughly 15% over the last two years and interest rates have dropped in half. Given these recent developments I am not sure what my next move should be because the refinance makes this a cash flowing rental however I have a lot of equity that I could take advantage of as well.

Lessons learned? Challenges?

This was a learning experience to say the least. A long term flip is risky without cashflow I would have either rented out spare bedrooms or gotten something with at least one additional unit. Because I was taking on the financial burden the entire time in hopes of seeing a return at the end the outcome was unclear. I would have managed the money better as well taking on credit card debt and personal loans is also risky without cash flow. Finally I would have had a more detailed exit plan.

Good Morning BP,

My name is Shaun Brown and I live in Phoenix, AZ since 2015. I love living here and have watched this city explode in just the past 5 years. I was a contractor in Colorado before moving to Phoenix and getting my Real Estate Salesperson license. 

Like many new agents I was all over the place and never really focused on any one area. The result was getting a job. I found biggerpockets during my time working at said job because I knew I was not done in real estate I just had not figured out what I was going to do. I kept my license active with KW and was as involved as I thought I could be which involved referring deals to an agent I built a solid relationship with at my brokerage.

 I took these two years to grow and learn in the direction of a successful real estate investor. I am looking to build a business and document my efforts on the forums. I went driving for dollars for the first time this week, I cannot wait to come back here and tell you all about what happens next.