All Forum Posts by: Tyler Puzio

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $43,750

Under market purchase. Bought the house with built in equity.

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

The house came with built in equity. We got a lot of sweat equity out of the deal as well

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

Wholesaler

How did you finance this deal?

Conventioanl loan

How did you add value to the deal?

Renovated the home.

What was the outcome?

Forced appreciation which produced more equity and greater potential cashflow

Lessons learned? Challenges?

Heavily vet out every tenant and read the fine print of every background check/credit check

Investment Info:

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

Purchase price: $120,000
Cash invested: $240,000

Off market seller finance deal

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

Getting our feet wet with out of state deals

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

Wholesaler from a facebook group

How did you finance this deal?

20% down payment with the rest seller financed on a 15 year note amortized over 30 years

How did you add value to the deal?

Lipstick renovations

What was the outcome?

Fully occupied and cash flowing

Lessons learned? Challenges?

Always ask for the rent ledger vs the rent roll. Only asking for the rent roll led to 2 evictions.

Investment Info:

Mixed-use building

Purchase price: $405,000
Cash invested: $20,250

Mixed use investment. 2 residential units with 1 storefront

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

Cashflow, area appreciation, and an opportunity to put low money down

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

Wholesaler

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Completed renovated one unit and did a light renovation to the other. The business renting the storefront unit did a complete haul of the space to bring it up to code

What was the outcome?

Cash flow of 2k+/month and about 200k equity in the deal.

Lessons learned? Challenges?

Decide on pricing with contractors before any additional work is done.
Make sure you have the funds to complete each portion of the renovation.
Work on a draw schedule with your contractor.
Make sure paperwork is in order and correct before proceeding with any evictions.

Investment Info:

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

Purchase price: $250,000
Cash invested: $62,500

Buy and hold investment. Producing 2k/month in cashflow

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

Financial freedom

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

MLS

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Increase the rents

Lessons learned? Challenges?

Old houses produce a lot of repairs. As long as you can manage the short term, you will succeed in the long term.

I have 2 apartments available in the same building. One that was completely renovated and one that we spruced up and renovated the bathrooms. Both are listed for market rent and are in a great area near bus stops and the train station. I've been creative with the marketing and have went to facebook, craigslist, and the MLS. We haven't been getting a lot of bites. Any suggestions? Thanks.

Great point here. I've since found a tenant and implemented some of these. Thanks.

I recently purchased a mixed use building with a partner; the commercial space is on the smaller side but I have interest from an individual who would like to open up a salon. Any suggestions on the type of lease I should use or any verbiage that should be mentioned within the agreement? I'd like to keep the tenant responsible for general upkeep of the space. From what I've read, a gross lease seems like the best option. 

Any input is appreciated. Thanks.

I wouldn't take this deal. You aren't getting much of a return on your cash which makes it very hard to get that money working for you again. The appreciation is nice but I'm not sure if that would be worth it in the meantime. 1 bathroom is a little bit tougher to rent out as well. With that being said the Phoenix area may be a great place for a short term rental/airbnb given it's popularity for vacationing. That's what my partner and I are looking to do for our next deal. It's all about getting creative with what you are given.

Great advice, I didn’t think of it like that.

I’ll take a look. Thanks!