All Forum Posts by: Lance A White

Investment Info:

Single-family residence fix & flip investment.

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

WOWZA!Remarkably remodeled & totally move-in ready!Nestled on a huge lot w/ deep driveway,this showstopper will dazzle you w/ delight from the moment you step inside!Savor the upgrades galore from the modern finishes throughout to the incredibly spacious floor plan!Impressive amenities include an open main floor w/ updated kitchen,granite counters,tile backslash & big island;cozy living room w/ bright windows & amazing fireplace; master suite w/ oversized closet & spa-like bath w/ walk-in tile shower, dual sinks, soaker tub & main floor laundry;plus main floor bonus area too!Enjoy the finished lower level w/ expansive rec room,4th bed,3/4 bath w/ walk-in tile shower & oodles of storage!Superior updates also include New Windows (2018),New HVAC (2018),New Roof (2018),Fresh Paint & Carpet,Gorgeous Hardwood & Tile Flooring plus a Massive 28ft wide by 32ft deep garage too! Many more updates to see for yourself, so hurry here & call this house your new home!

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.

Are you looking for a bank or private money or hard money?

Hey Chad,

I have a broker I work with in Lincoln.

I will connect you two.

Meet with other investors, wholesalers, contractors, bankers, and realtors. Monthly key-note speaker and lots of networking.

7:00-7:30~Networking

7:30-8:30~Key-note speaker

8:30-8:40~Present deals to the group

8:40-whenever~Networking

This bungalow style house has a long term year to year renter. The roof was replaced in 2016 and has a newer furnace. Built in 1920 on a close ended street with newer town homes near by. It is close to a great park and bike trail. Laundry in the basement, but because of the low ceilings, it is only used for storage.

It has a nice sized back yard with alley access. Windows are older.

We bought it as part of a portfolio and are offering it for sale. No interior pictures are available, but if you have serious interest, we will take some, or schedule a time to show it.

Welcome. We are always looking for good wholesalers. We have a monthly meeting the 2nd Monday of the month at 7 o'clock at grata that you will want to come check out.

Andrew,

I work with a local mortgage lender who helps buyers improve their credit score, and he is well versed in FHA lending. Let me know if you want his contact info.

On a separate note we have a group of investors who meet once a month. Let me know if you want information about that also.

Lance

Jake,

We work with private money lenders and hard money lenders. Both are short term solutions to getting properties under contract and getting them rehabbed and ready to rent/flip. I also do a ton of seller finance deals here in Lincoln, Omaha and Council Bluffs.

I recommend local banks and would refer you to Jerry Sukup at Central National Bank here in Lincoln. Let me know if you want his contact info. I like him because he owns a real estate portfolio and most of his lending deals with real estate.

Lance 

Yes we are. Second Monday of each month at 7:00 pm at Grata in the back room.