All Forum Posts by: William B Mcelmurry

My wife and I sell land in San Jose Del Cabo. 
great opportunity for building a vacation/ retirement home or a Airbnb.

Minutes away from the ocean, Flora farms, great restaurants a short distances to the marina. 
Perfect area for great fishing, easy living, and just relaxing.

We can recommend engineers, builders, and general questions you may have.

Hello my name is William 

My family taught me how to build homes in the 90s from the ground up. My father even brought me along to ask for private money lending at peoples homes.
005 bought my first home in Louisiana, turned into a rental and moved to Fort Worth Texas and bought my first brand new duplex in 2008.

Educated myself and bought real estate investment courses and settled on Armando Montelongo‘s flip this house completed that course and bought my first 2 fix and flip in 2009 sold one in 2009

I did not farewell during the housing market crash, simultaneously lost my job due to the Event Horizon oilfield disaster.

My lovely wife and I now purchase real estate in San Jose Del Cabo Mexico with our cash and build with our money as well. We own 7 properties that we will start developing in 2025.

We are currently remodeling my wife’s two-story home, turning that into two rentals.

A developer contacted us and is using our largest plot to build a four-story condo building trading one condo for the opportunity.
We drive and live in an 18 wheeler debt-free saving up capital for the next opportunity. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $100,000
Sale price: $140,000

Fix n flip

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

Opportunity to start a real estate portfolio of my own

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

I have purchased several classes. Started working with Armando Montelongo and flip this house.
I bought this house, direct wholesale, got it under contract. Using my knowledge, I estimated the remodel cost, Found the estimated Resale value using comps. Then made an offer and got it under contract.

How did you finance this deal?

Once I had the property under contract approximately $50,000 below market value, I contacted A private money lender.

How did you add value to the deal?

I put $2000 down to have skin in the game. Already knew how to build homes. I remodeled the kitchen and the bathrooms and the master bathroom. Replaced carpet, textured walls and painted.

What was the outcome?

I was able to pay back the private lender, and less than six months with the sale of the house

Lessons learned? Challenges?

Trying to save costs on affordable contractor just cost me more money.
Even though I had talked to my real estate agent about how I was investing and trying to rapidly move forward with this home. He was slow on selling it, believing that all the money was mine instead of trying to close the deal quickly so I could do it again. so I ended up spending my profits on the monthly mortgage payments.

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

Not at this time