All Forum Posts by: Lance A White

Investment Info:

Single-family residence wholesale investment.

Purchase price: $61,000
Sale price: $64,000

Wholesale deal where I connected another wholesaler with one of my buyers.

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

Zero money and two hours of time into the deal.

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

I had a buyer looking so I met up with another wholesaler at the investor meeting the next night. They had just put this property under contract earlier in the day.

How did you finance this deal?

Uhm...I didn't.

How did you add value to the deal?

I connected a buyer with a seller

What was the outcome?

I made $2700.

Lessons learned? Challenges?

Try and find Win, Win, Win situations.

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

No. This was a bang bang deal with only our awesome title company Charter Title, who knocked it out in about a week.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $2,200
Sale price: $114,750

Purchased this as part of a portfolio, rented it for a year and then sold it.

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

Previous tenant was a contractor and fixed this house up. All we had to do was paint the main floor and patch in some carpet in one of the bedrooms.

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

A financial advisor sent me this deal

How did you finance this deal?

Seller financed 100%. We rented it for a year and it cash flowed about $320/month.

How did you add value to the deal?

Just painted.

What was the outcome?

Great

Lessons learned? Challenges?

Pretty smooth deal

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

Amy Pfingsten of Red Door Realty. Empire painting.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $76,900
Cash invested: $70,000
Sale price: $249,000

This was a probate property that was a complete renovation including four bathrooms. It turned out great. The estate financed the purchase price and we used hard money to fund the renovation.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $76,900
Cash invested: $70,000
Sale price: $249,000

This was a probate property that was a complete renovation including four bathrooms. It turned out great. The estate financed the purchase price and we used hard money to fund the renovation.

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

We were able to pick this up from probate. It is in a great neighborhood and had tons of potential

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

An attorney brought this deal to us.

How did you finance this deal?

The estate financed the purchase price and we used hard money to fund the extensive renovation.

How did you add value to the deal?

Through a complete renovation.

What was the outcome?

One of our best projects

Lessons learned? Challenges?

Make sure you don't remove load bearing walls.

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

Amy Phingsten of Red Door Realty was our sellers agent. Inside Out renovations did the remodel. RDM landscaping handled the jungle in the back and did some great landscaping.

Investment Info:

Mobile home buy & hold investment.

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

This is a turn key property that will be moved to a different mobile home park.

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

It's cheap

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

Talked to mobile home park management

How did you finance this deal?

Cash

How did you add value to the deal?

Washer and dryer.

What was the outcome?

We will be renting it to tenants who needed a larger place.

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

No

Investment Info:

Mobile home buy & hold investment.

Purchase price: $1

This mobile home will need a lot of work and will rent for around $700/month. Sorry the pics are sideways.

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

It was cheap

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

Talked to to manager of a mobile home park and told them we wanted to buy several homes.

How did you finance this deal?

Pulled a dollar out of my pocket.

How did you add value to the deal?

We will renovate it for a new tenant.

What was the outcome?

Just getting started.

Lessons learned? Challenges?

I'm sure there will be many.

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

No.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,402
Cash invested: $1

This beautiful older home will get updated after the 2nd Street project. Rehab budget is $40,000 and it will sell for $164,000.

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

This was part of a portfolio we purchased.

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

Wholesaler brought the deal to us, and we bought it as a package

How did you finance this deal?

Cash

How did you add value to the deal?

It is getting a complete renovation from top to bottom.

What was the outcome?

In progress

Lessons learned? Challenges?

Use our own contracts to keep the contractor on schedule and budget.

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

Not to that stage yet.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $39,320
Cash invested: $1
Sale price: $77,500

Sold to another investor who is going to use it as an Air B&B.

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

It was part of a portfolio we purchased.

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

It was brought to us by a wholesaler and we bought it as part of a portfolio.

How did you finance this deal?

Cash

How did you add value to the deal?

Complete renovation including new kitchen, bathroom, flooring paint, fixtures and added laundry hookup.

What was the outcome?

Sold it to another investor and made a nice profit on it.

Lessons learned? Challenges?

This one was straight forward, but make sure you use a realtor who has a marketing system, not someone who just lists it and forgets it.

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

Brock Owens of the Derek Kats Keller Williams team.

My daughter Just picked up two mobile homes. One is move in ready, the other needs lots of work. She is super excited because she sold some of the furniture that was left in it which should cover the back taxes owed plus a little extra. I think our next step is to buy a mobile home park. 

I hope everyone else is having a productive 2019

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $71,400
Cash invested: $75,058
Sale price: $225,000

Impressive amenities include an open main floor w/ updated kitchen,granite counters,tile backslash & big island; amazing fireplace; master suite w/ oversized closet & spa-like bath w/ walk-in tile shower, dual sinks, soaker tub & main floor laundry; finished lower level w/ expansive rec room,4th bed,3/4 bath w/ walk-in tile shower Superior updates also include New Windows,New HVAC ,New Roof,Fresh Paint & Carpet,Gorgeous Hardwood & Tile Flooring plus a Massive 28ft wide by 32ft deep garage too!

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

We love renovating 50's and 60's homes. There is always great potential.

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

We bought it at an on line auction.

How did you finance this deal?

Private money lender.

How did you add value to the deal?

Completely remodeled the entire house.

What was the outcome?

One of our best rehabs this quarter.

Lessons learned? Challenges?

Lots of inspections on this one, and new contractor went over budget and time on this one, but we didn't follow our system like we should have.