All Forum Posts by: Steven LeRoy

If the meter stops moving when you shut off the main, then there is no leak from the point of connection from the water main to your meter that would cause your meter to read a higher flow. My advice would be to install shut offs before each unit and turn them all off and open one at a time to see which unit makes the meter flow. All the hot water tanks should have a shut off on the cold in water line into the tank, make sure they are all off as well and open a hot water outlet to relieve the pressure. You can then open one unit at a time and check the meter to see which, if any unit has a continuous run.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $15,500

My company's first Fix and Flip. Bought a house from a wholesaler and it came with a buyer! a local person is looking for a house and came to us pre approved and with money to put down! excited to see how this goes but i think it will be a great 1st Flip! 60k purchase price, which we used private money from friends to buy, an estimated 15,500 in construction materials and a potential 115,000 sale price. my contribution to the deal is my labor and skill!

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

Hoping to ride this sellers market to make good returns to fund buying rentals.

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

Met a wholesaler while conducting an inspection on another house he had sold.

How did you finance this deal?

Private money from friends in which we made promissory notes to pay back the original money plus interest pursuant to the house.

How did you add value to the deal?

I brought knowledge and experience of Houses and I will be doing all the construction and overseeing what I cant at a very reduced cost

What was the outcome?

Hopefully a 30 k pay day!

Lessons learned? Challenges?

nothing yet!

new to this site, very excited and intrigued by all the options and resources BP brings to the game. I've been a landlord for about 5 years and a carpenter and general work diyer for same amount of time. Currently purchasing my home for me and my new family( fiancé and 5 mo. old baby). As soon as it closes I am looking to flip a property and invest in more multi unit properties. I do all my own work and know many people who can do what I cannot, which isn't much.

Very excited to read more people's success stories and make more business connections!

awesome deal. I like the boldness to take on such a project. Good luck! Can't wait for progress pics.