Investment Info:

Single-family residence wholesale investment.

Purchase price: $40,000

Sale price: $63,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Mark Mil...

They might not require major upgrades, but they can have a greater initial cost and offer instant income flow.Keep in mind that every market is different, and strategies that are successful in one may not be in another.

People flipping homes instantly got crushed and many people doing BRRRRs ended up under water both in equity and monthly payments as rates went up.

Stay consistent.Sorry but they deserve to crash and burn.

Partner Driven was interested in the Burning Lane deal in Stony Point, NC, due to its high profit potential with a purchase price of $162,000 and a sale price of $290,000.

I know some people who have jumped in feet first and gotten burned, and others who are still "learning" despite going to numerous seminars, buying courses, etc.

One potential word of caution: I asked ChatGPT to compute the IRR of a fund based on certain criteria (which is normally alot of work), and it spit it out instantly with a ton of analysis and which all looked and sounded super impressive.

Within the next few days I will be adding posts on (1) issues on financing legally non-conforming properties; (2) rezoning a property with zoning problems, such as the property you mentioned and 3) what happens when a legally non-conforming property burns down?

I know that there are really good deals listing on the market every single day, but f there are so many great deals, why aren't they all getting bought up instantly when they go on the market by avid real estate investors?

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