All Forum Posts by: Travis Winders

And I am a very hands on investor, although I am long distance I have a boots on the ground project manager who checks in on the progress multiple times a week. I also make irregular trips out there myself. 

I’m attempting to keep my cash open for other deals, but I do have cash available for the right terms. Feel free to DM me and we can 

@Aditya Maini

There's a few reasons to go PM vs HML, probably the biggest for newer investors like myself is it allows me to invest less of my operating funds into this deal (HML will normally not loan more than 80% LTV). So for me, and many newer investors, sharing profits with an experienced investor allows me to keep my cash invested to a minimum, and meet a new investor who I can develop future business with.

You should check out Brandon Turners book on Investing in Real Estate with No or Low Money Down! 

Travis

Jacey, I have hard money available, but I would much rather utilize private money and profit share with a trusted BP investor.

Update: under contract for offered price, closing date 07DEC2018. 

Expected resale date: No later than 11March2018. 

Look forward to working with you! 

Hey there! I have a deal already set in place from everything from the purchase to the project manager. I'll include some numbers below but the projected profit with conservative rehab costs and ARV is looking like 57k. I'm looking for an investor to fund the deal and share the profit.

Purchase: 80,000 (must be cash for bank to accept this below market offer, market is 100k)

Closing costs: ~3,000

Repair: 60,000

All-in: 143,000

ARV: 225,000

Contact me ASAP for more information so that we can get this house to market in April! 

Call/text 770-842-8443

Email: [email protected]

Investment Info:

Single-family residence buy & hold investment in Aurora.

Purchase price: $255,000

My first purchase, a 3 bedroom, 2 bath that I "househack" with two roomates.

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

I really just wanted to get into my first home and get out of the rental cycle, after reading several books and watching podcasts from BP, the term "househacking" really spoke to me. I got my finances in order, and just went for it. So far, it has been one of the best financial decisions I've ever made.

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

Working with my realtor, we submitted several offers that didn't get selected. As a first time buyer, this was discouraging to say the least. When we found this deal, there was apparant damage to the carpets in the basement from pet waste, which I immediately thought was an excellent opportunity to get into this house as I was willing to spend some time and money rehabing, where most homebuyers wouldn't be. We offered 5,000 above asking, and ended up going under contract.

How did you finance this deal?

VA loan at 0% interest! Other than closing costs (~2,000) and the intial rehab (~2,500), I had next to no cash invested for this property.

How did you add value to the deal?

The basement was not practically habitable due to a horrendous stench in the carpet from past owners pets. So within a few days of closing, we demo'd carpets, floor/door trim, and started purchasing materials for a cosmetic rehab. We installed Luxury vinyl plank flooring, painted and textured the walls, installed new floor/door trim, and added 6 panel doors throughout the basement. Total cost was under 2,500 (including labor for a buddy with experience).

What was the outcome?

I'm about a year into ownerships, and conservatively (not including Rehabs) sit on 45,000 in equity.

Lessons learned? Challenges?

My only concern is that I didn't buy in a great neighborhood, and am limited in future rehabs and don't want to price myself out of the market my house is in. However, since month 1, I've had steady tenants who have paid nearly 100% of my mortgage costs in my year of ownership.

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

My entire team was incredible, especially with me being a first-time buyer I couldn't have asked for a better agent and lender. Anyone working in the Denver market should consider using Zach Sanders (Agent), and Tom Tacker (lender) for their next deal.