All Forum Posts by: Steve MacNerland

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $15,000
Cash invested: $75,000

Single family foreclosure BRRRR

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

We want to fix up the town we live in, one house at a time.

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

It was on the MLS as a foreclosure

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut and in the process of a full Reno

What was the outcome?

Stay tuned

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

Worked directly with the bank that had foreclosed on the property

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $150,000
Cash invested: $4,500

4 Unit Multi Family

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

Cash Flow, Owner Occupied, Location

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

Off market, negotiated directly with the investstor

How did you finance this deal?

FHA with 203k rehab

How did you add value to the deal?

New roof, heating systems, Gut and Reno 2 units, Flooring and Siding

What was the outcome?

Great tenants and good cash flow

Lessons learned? Challenges?

Have replacement value insurance.

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

No

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $99,000
Cash invested: $7,500

Purchased as a SF rental, currently used as primary residence

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

Access to Lake Champlain, as well as a camper hookup on each side of the house.

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

It was on the MLS, made offer the day it hit the market.

How did you finance this deal?

Conventional 5% down, recently refinanced and pulled some equity out to finance another deal.

How did you add value to the deal?

Just minor improvements, new roof, and flooring throughout. Updated enclosed front porch.

What was the outcome?

Currently Primary Residence, plan to buy/build a new home in the next couple of years and will turn this back into rental with seasonal camper lots.

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

I used a friend as a real estate agent