All Forum Posts by: Account Closed

Hi Everyone!

Just seeing who's heading to BPCON 2022 in San Diego! 

First time going to a BPCON. Missed last years and excited to finally be attending.  

See you tonight at the NOVA opening party!

Hi @chihirokurokawa,

Did you find a good syndication attorney?  Looking for one in the Dallas area!

@Alecia Loveless. Hi Alecia, We are also looking to start buying in DFW area. Same size range. 20-50 Units. Have a few deals we are working on at the moment that hopefully come through. Would be great to connect with like minded investors like yourself!

Hi Johnathan & Tony,

I invested in Chicago's Oak Park area in 2016.  The property appreciation has been great! I'm looking to move on to bigger properties with a group of investors I put together, so I'm deciding to sell.

The property management company I use is Homeriver Group.  They were actually called something else when I first started with them. They changed the name.   They have improved somewhat, but really try to squeeze a lot out of you in terms of paying for upkeep and some fee's. Also didn't handle some evictions I needed done in timely manner or really secure the property after I did it, so they returned.  The maintenance work I paid for is not great.  Said they bought new refrigerators and they look old to me etc.  Just did a ton of maintenance work through them to get new renters in.  A few days after they move in they say I need new cabinets and to replace windows?  My question is how was this not assessed before when we were doing the work. Constant problems.  Another big reason I'm selling.  I think its just too much hassle to have small duplexes etc.  

Hope this helps and great connecting with you all1

Investment Info:

Single-family residence fix & flip investment in Saint Petersburg.

Purchase price: $109,000
Cash invested: $61,403
Sale price: $240,000

Single Family Fix & Flip.

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

Business Partner

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

Business Partner

How did you finance this deal?

Cash

How did you add value to the deal?

Interior Remodel, New Bathrooms, A/C, Roof Repair, Paint and and Landscape

What was the outcome?

Good Profit and successful other then time it took to complete.

Lessons learned? Challenges?

Time and Project management lessons learned and new strategies implemented.

Investment Info:

Single-family residence fix & flip investment in Pinellas Park.

Purchase price: $66,500
Cash invested: $29,000
Sale price: $148,500

Single Family Flip with a Partner

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

Business Partners who do Fix and Flip Opportunities

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

Business Partners: Wholesale Seller

How did you finance this deal?

Cash

How did you add value to the deal?

Interior Remodel, New Bathrooms, A/C, Roof Repair, Paint and and Landscape

What was the outcome?

Good profit for the flip and cash invested, but took longer then expected.

Lessons learned? Challenges?

Permitting took longer than expected.

Investment Info:

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

Purchase price: $40,000
Cash invested: $65,000

Duplex, complete remodel, Section 8

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

Friend's who have invested in the same area.

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

Property Management Company recommended the exact property.

How did you finance this deal?

Cash

How did you add value to the deal?

Remodel and Rented

What was the outcome?

Property Management company did not do a good job. Property has appreciated 200% in 3 years. Cash flow has been good but not consitant because of poor property managers.

Lessons learned? Challenges?

Most important lesson is to really find the best property management company.

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

Not at the Moment. The property is up for sale, and will recommend the Agent after the sale if they get it sold and are professional.