All Forum Posts by: Prescott Williams

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $410,000
Cash invested: $80,000

Luxury 10,000 square foot apartment complex by the water and near Downtown Moss Point, Ms.

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

I wanted to scale up and start tackling some commercial deals.

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

I found this deal on a bank foreclosure listing and I bargained with the bank for about a week to get the price down.

How did you finance this deal?

20% downpayment with a 15 year arm/5 year balloon

How did you add value to the deal?

Renovated all 8 units and did some major landscaping and design changes

Investment Info:

Single-family residence buy & hold investment in Pass Christian.

Purchase price: $25,000
Cash invested: $5,000

1,000 square feet 1 bed/1 bath contemporary Katrina Cottage

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

I was interested investing in this type of deal because it was an amazing deal off of the MLS

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

I found this deal through a family friend who was going through the probate process for this residence

How did you finance this deal?

personal financing-cash

How did you add value to the deal?

Fully remodeled

What was the outcome?

appraised value post rehab-$115,000

Lessons learned? Challenges?

Always put people first, make transactions easy, and always do what you say you're going to do.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $25,000

1500 square foot 3 bed 2 bath beautifully remodeled single family residence minutes away from The University of Southern Mississippi and Forest General Hospital

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

I was interested in investing in this type of deal because I wanted to buy my first place after college instead of throwing away $1,000 plus every month to rent a place.

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

I found this deal on the Zillow for 55K. I noticed the person selling the property ran out of money halfway through a renovation, so I offered 40K cash plus he had to leave all the supplies he bought for the house in the property upon sale. He accepted.

How did you finance this deal?

I financed this deal with a HELOC on my parents home that they owned free and clear

How did you add value to the deal?

I did a complete remodel to add value to this deal

What was the outcome?

The outcome was a beautiful property that appraised for $150,000 upon rehab ending

Looking for my first buy and hold rental in the neighboring communities around South Alabama University in Mobile, Alabama. Looking for a deal somewhere I can live in and rent out the other rooms. Preferably a 3 bedroom 2 bath rental below $100,000 looking for a deal. Any deals or advice is more than welcomed

thanks for the advice Marlon, How are you doing Marquell, I have a feeling we'll both accomplish are goals with hard work, dedication to the game and linking with the right people.

Hi everyone I'm Thyrone Prescott Williams Jr., I'm a 20 year old resident of Pass Christian, a small town located along the Mississippi Gulf coast. I currently serve in the Air force Reserve and am a full time Nursing student at South Alabama University in Mobile. I'm extremely interested in the long term wealth that real estate can provide. My limited experience in the field comes from my father who owns properties and homes along the Mississippi Gulf Coast. I've been involved in rehabs, vacancy touch ups, and have picked up my fair share of rent checks. I joined the bigger pockets Forums to seek mentors and possible partners in my future real estate Career and partially for my love of the bigger pockets podcast. I'm excited to have the opportunity  to learn from the actions of the plethora of great real estate investors across the U.S. I will be worth one million dollars by age 30 and own 100 units by age 35