All Forum Posts by: William Manning

Auben Realty and @Phillip Vera may be able to help

 Wow, just wondered about this myself. 

Thank you again for all you and your team have done to help me through the process for the first time doing this strategy. Y'all don't know how much that really meant to me. I'll be sending the next refi your way as well.

I simply can't thank you enough Andrew.

Good advice from @Greg Scott
"So you just came across one of the biggest problems with Plexes. If there aren't that many, the comps can be hard to find, and therefore the valuation can be volatile. I know plenty of people, that went to refi a few months after purchase and their property appraised for lower, even though houses in the area were appreciating. Again, talking to an appraiser may be money well spent."

Check out “How to: Cash out 1–4-unit Property” by Andrew Postell, along with all the reply's to his post, for a faster return.

@Kenneth Mooney

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000

3/2 with tenant in place,  cash purchase, in the PM handover process with a refi in the near future.

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

It was at the max end of my budget, but it was tenant occupied. The rent appeared low for the area.

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

With a local real estate agent @kennethmooney

How did you finance this deal?

with a HELOC on my primary, I was able to purchase with cash. I will be doing a refi in the near future to recoup the majority of the purchase price so I can try this again.

How did you add value to the deal?

It needs some minor cosmetic work.

What was the outcome?

that is in progress and I will update this in the future

Lessons learned? Challenges?

don't forget the keys at closing. Always keep in touch with the property manager.

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

yes. @kennethmooney

 What do you mean? An African swallow or European swallow?

Read this post: How To: Cash out 1-4 unit Property by @Andrew Postell

It seems like what you may be looking for.

Quote from @Lawrence Briggs:

 That's the face of pure joy. Congratulations!