All Forum Posts by: Todd Knudson

@Jonathan, thank you for the post, I have to say 'Guilty as charged". Now with my admission all 10 property's are cash flowing. bottom performer only $78. per month. Your 5 step process was very helpful. Funny thing. the property i like the lease happens to be my best performing. Very interesting review. This now gives me a plan to follow.

Thank you! 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $43,000

3 Bed 2.1 bath 10,000 SQFT lot Cul-de-sac
Charming home completely remodeled.

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

Great Buy and low interest rate. 3.5%

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

Friend

How did you finance this deal?

Conventual Financing

How did you add value to the deal?

Total remodel

What was the outcome?

Still holding

Lessons learned? Challenges?

I personally don't care for large lots. Invites to many people.

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

I am the agent

Investment Info:

Single-family residence fix & flip investment in Missouri City.

Purchase price: $233,000,000
Cash invested: $233,000,000
Sale price: $380,000

Introducing Your Stunning, Completely Remodeled Home! This 2024 remodeled masterpiece is ready to impress! With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few. Step inside and be captivated by the spacious open-concept layout, perfect for entertaining. The 2.5 bathrooms have been completely remodeled with luxurious showers and fixtures. Imagine waking up to breathtaking views of the Quail Valley golf course right from your backyard! This prime location offers a serene and peaceful setting. With 4 bedrooms and 2.5 baths, this home provides ample space for your family's needs. Don't miss out on this incredible opportunity to own a stunning, completely remodeled home in a highly desirable location! Contact me today to schedule your private viewing!

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

Client reduced price and using Direct IRA financing.

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

Found through past client

How did you finance this deal?

Direct IRA

How did you add value to the deal?

Complete remodel

What was the outcome?

I am not on the market for $380k

Lessons learned? Challenges?

Better job hiring contractor. NEVER use a friend. At the end of the day my "friend took me for $14000. and lost a friend".
In addition: I would withhold more money for completion. Would hole contractor more accountable and pull plug quicker.

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

I am a Realtor. Did the transaction on my own.

Janet, thank you for posting. I really needed that reminder and it took my less than 5 minuets to complete. 

The question is asking if the "1% rule" (where rental income should be 1% of the purchase price) is still a relevant guideline for real estate investing. The respondent's perspective is that while the 1% rule can be a starting point, it's not the only factor to consider. They are willing to consider properties that are close to meeting the 1% rule, but will conduct further analysis to make a final decision.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $233,000,000
Cash invested: $23,300,000

single famly, 4/2.5 2 story

How did you finance this deal?

Direct rollover IRA

How did you add value to the deal?

total remodel

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

I am an agent

Thanks Jacob. Exactly what I was looking for. 

Clint, thank you for responding to my question. May I ask what is "HYSY"?

What % ROI are you looking for on Flips these days?

@Darius Parsia, great insight, thank you for your thoughts.