All Forum Posts by: Vic Valera

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*This link comes directly from our calculators, based on information input by the member who posted.

All, 

I’m new to the flip calculator and would appreciate any feed back or input on this deal. Thank you in advance

Thomas,

Great post! I’m a builder in Jackson, MS. I’m also researching the build to rent strategy. Facebook market place and local realtors have been a big help for lead gen. I just recently posted on FB that I’m looking for infill lots and received several quality leads.

Best of luck

Investment Info:

Single-family residence buy & hold investment in Jackson.

Purchase price: $33,750
Cash invested: $6,500

3 bed 2 bath single family home. Located in South Jackson, MS

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

Own other property in the area

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

Off market. BP member. Paid asking price

How did you finance this deal?

20% conventional loan

How did you add value to the deal?

Property was already rented

What was the outcome?

Renter $900 monthly. Cash flow $386

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

Represented my self as investor agent

Investment Info:

Single-family residence buy & hold investment in Jackson.

Purchase price: $35,000
Cash invested: $12,000

3bed 2 bath single family home in south Jackson

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

Cash flow

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

Bigger pockets investor

How did you add value to the deal?

Light rehab

What was the outcome?

Rented for $800 per month

Joshua,

Welcome to Jackson, MS my brother. Wish you the best. Jackson is very street specific take your time, do your due diligence and if your not local I recommend getting good boots on the ground! A good General Contractor is key to success in Jackson 

-Vic Valera

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $12,000

3bed 2 bath single family home in south Jackson

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

cash flow

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

investor I work with offered to sell

How did you finance this deal?

commercial loan

How did you add value to the deal?

light rehab, new HVAC,

What was the outcome?

$350 monthly cah flow & Section 8 long term tenant

Lessons learned? Challenges?

local expertise is key

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

owner agent

@Spence Rodman

I received a payment 3 months ago for a tenant who was 15 months behind. I was also told 15 months is the max allowable and that tenant would not be eligible to reapply. Took about 6 months to receive payment. Also have another tenant pending payment. Hope this helps

@Wei Jie Chin

Welcome to Jackson, MS

@Stephen E.

Tim Pickett at Community bank in Brandon, MS. We have had good experiences working with him for commercial real estate loans. 

@David Boatman

In this market (Jackson) specially for out of state investors a good Property management company is key. The PM must know how to communicate effectively with tenants and understand HUD requirements. Great post.