All Forum Posts by: Sheila Smith Oliver

OFF MARKET-builder needs to liquidate to focus on bigger projects. Needs septic and interior (floors, kitchen, baths, water heater). 

181 Blushing Drive, Cedar Creek, TX 78612

4BR, 3.5 bath, 2 car garage2216 sf.51 lot

PP $399k OBO / ARV $530k

Contact [email protected] for more details.

I used 913 Productions for mine https://www.airbnb.com/rooms/7...

Thank you Mike!

Investment Info:

Single-family residence buy & hold investment in Indio.

Purchase price: $790,000
Cash invested: $180,000

Vacation rental walking distance to Coachella and Stagecoach Festivals

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

We love the desert and being able to walk to the Festivals. The area is quiet and scenic. Great place to meet up with family and friends.

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

It was listed by the owner and a fellow Agent from my HomeSmart Realty Family

How did you finance this deal?

DSCR with One Brokerage

How did you add value to the deal?

Fresh paint, new furnishings, new mirrored closet doors, and game room!

What was the outcome?

We just listed but looking forward to a busy festival season.

Lessons learned? Challenges?

First Lender (BRRRR Loans) gave pre approval but then changed requirements days before closing and could not commit to the new requirements for 2 weeks! One Brokerage stepped in and moved quickly.

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

One Brokerage

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $499,900
Cash invested: $143,000
Sale price: $650,000

Full remodel with new roof in only 4 months!

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

Close to downtown and on a bus line.

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

Networth (Wholesale)

How did you finance this deal?

Hard Money

How did you add value to the deal?

New roof and added space to primary bathroom with walk-in shower. Added fruit trees and updated pizza oven and outdoor bar.

What was the outcome?

9% cash on cash return

Lessons learned? Challenges?

Expected to sell for $670k but market took a turn with higher interest rates.

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

Yes

Investment Info:

Single-family residence fix & flip investment in Seguin.

Purchase price: $299,900
Cash invested: $46,000
Sale price: $410,000

Fix and Flip with foundation work. Would have had a much a higher return but chose the wrong flooring installer that vanished when the job was done wrong. Lesson learned! Still came out with 39% cash on cash return.

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

Foundation work was reasonable

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

New Western

How did you finance this deal?

Hard Money

How did you add value to the deal?

Foundation repair, new floors, paint, all repairs needed, and cleaned up ADU

What was the outcome?

39% cash on cash return

Lessons learned? Challenges?

Extension needed for FHA Buyer re: flip 90 day hold. Spent an additional $12k that was unnecessary after choosing the wrong floor guy.

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

Yes

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $299,900
Cash invested: $46,000
Sale price: $410,000

Fix and Flip with foundation work. Would have had a much a higher return but chose the wrong flooring installer that vanished when the job was done wrong. Lesson learned! Still came out with 39% cash on cash return. Foundation repair was only $4500.

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

No competition. Purchased the week of Christmas.

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

New Western San Antonio (Wholesaler)

How did you finance this deal?

Hard Money

How did you add value to the deal?

New floors, paint, fixtures, repaired all the needed repaired including foundation and cleaned up the ADU

What was the outcome?

39% cash on cash return

Lessons learned? Challenges?

Stick with the contractor with the best reviews/ referral even if they are higher. FHA Buyer needed to wait the time frame for a flip and needed an extension.

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

Yes

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $227,500
Cash invested: $110,000
Sale price: $419,000

Out-of-state fix and flip. Hired a team on the ground from FB Groups. Had a Section 8 Tenant for one month that we asked to vacate as the new owners so that the home could be repaired as it was not in a healthy living condition.

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

First time purchasing with a Section 8 Tenant. Although the tenant did not want to leave and had been there for 14 years, the home was in major disrepair and in order to keep the voucher the tenant was forced to move out.

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

New Western Wholesaler

How did you finance this deal?

Hard Money

How did you add value to the deal?

Major remodel and added enclosed garage.

What was the outcome?

48.6% Cash on Cash Return

Lessons learned? Challenges?

Not to panic and lower the price when it doesn't sell the first weekend. There were 3 listings in the neighborhood at the same time.

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

Yes

Investment Info:

Single-family residence fix & flip investment in Harrison.

Purchase price: $130,000
Cash invested: $85,000
Sale price: $249,900

Purchased off-market from a REO (tax lien) while being managed by Auben Realty. They also brought the contractor and sold quickly. Added value by converting basement into a bedroom.

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

Good return with no travel needed.

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

Auben Realty

How did you finance this deal?

Hard Money from Wildcat

How did you add value to the deal?

Converted basement to bedroom.

What was the outcome?

50% Cash on Cash return

Lessons learned? Challenges?

Home had been vacant for years and the Inspector needed a gas mask to enter. Even the worse homes can have a good return with the right team.

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

Jason Weathers at Auben Realty

I know a few and have one under contract right now 5 minutes from Coachella!