Purchased: February 2021
Location: Miami, FL
Property Type: Multifamily
Strategy: Value-add
Purchase: $2.05M
Financing: $455K down. Seller Financing with a 5-year balloon
Purchased: February 2021
Location: Indianapolis, IN
Property Type: SFH
Strategy: Buy and Hold
Purchase: $43K
Repair Cost: $19K (exterior work)
Financing: NA
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I love the location of this house. It is on a quiet street next to a high school. It was an ugly house with nice interiors. However, due to the need for an extensive exterior rehab, the house sat on the market for months. I was able to get it under contract at a deep discount with a cash offer using private money.
This bungalow looked brand new after a facelift, which included a new roof, new sidings, painting all trims, and yard clean up. This increased the rent by $150 per month.
A cashout refinance is certainly an option in the future. For now, the no debt cashflow is pretty sweet!
Purchased: October 2020
Location: Indianapolis, IN
Property Type: SFH
Strategy: Buy and Hold
Purchase: $70K
Repair Cost: $5.5K (new roof)
Refinancing: 75% LTV conventional
Loan Terms: 30-year fixed at 3.5%%
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This house was too cute to pass! Good location and on the path of progress. Selecting the right neighborhood certainly makes a huge difference on property value. In this case, the property value has nearly doubled in less than a year.
NOI $6,025 * Cashflow: $3,196 * Cash on Cash: 16.6% * DSCR: 2.13
Purchased: September 2020
Location: Indianapolis, IN
Property Type: Duplex
Strategy: BRRRR (Buy, Rehab, Rent, Refinance, Repeat)
Purchase: $46K
Repair Cost: $32K
Refinancing: 75% LTV conventional
Loan Terms: 30-year fixed at 4.375%
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All in cost $78K and property was appraised at $110K after rehab. Approximately $30K equity was created and I was able to pull all the initial investment out and still cashflow.
BRRRR is by far the most powerful strategy in real estate! Nothing beats a tax free infinite return!
NOI $9,198 * Cashflow: $5,010 * Return: Infinite
Purchased: August 2020
Location: Indianapolis, IN
Property Type: Duplex
Strategy: Buy and Hold
Purchase: $120K
Repair Cost: $10K via closing credit
Financing: 75% LTV conventional
Loan Terms: 30-year fixed at 3.375%
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First investment property purchased with the intent to build passive income and long-term wealth. Not an amazing deal but this transaction made me a real estate investor and opened the door for endless possibilities!
Very happy that I was able to negotiate $8K repair credit for a new roof and basement work; as well as take advantage of the low interest rate.
NOI $8,851 * Cashflow: $4,076 * Cash on Cash 12% * DSCR 1.85
Purchased: June 2020
Sold: April 2021
Location: Rockwall, TX
Property Type: Land
Strategy: Flip
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Knowing the market power! My partner understood the property value and demand in her market. She convinced me to pool our funds together to snatch this piece of land. This was probably the easiest investment I have ever done since there was minimum work required for the property itself at purchase, during holding and at sale!
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Purchase: $120K
Improvement/Holding/Taxes/Fees/Commission: $14K
Sale Price: $225K
Profit: $90K
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Etiam euismod massa sed lectus molestie aliquet. Nam sagittis lacinia leo et gravida. Ut elementum fringilla diam ac gravida. Integer orci justo, vulputate et posuere convallis, sodales vitae lectus. Phasellus dictum tortor lorem. Nulla faucibus sem ut mattis maximus. Nullam purus erat, consequat at tincidunt quis, luctus et tortor. Cras et lacinia metus, id maximus felis. In lacus ante, placerat a ornare vitae, fringilla at felis. Phasellus tincidunt ante elit, a bibendum eros sodales a. Ut laoreet, tortor finibus commodo porttitor, sem magna convallis enim, sagittis congue ligula urna eu tortor. Fusce vulputate velit ut nisi fringilla, nec blandit odio pretium. Sed dolor nunc, sollicitudin non sodales pulvinar, auctor in nisi. Nullam euismod sem nec ligula consectetur iaculis. Maecenas feugiat rhoncus enim. Mauris sodales lorem sit amet arcu scelerisque, tempor dapibus purus tristique.
Purchased: January 2009
Sold: October 2018
Location: Tracy, CA
Property Type: Condo
Strategy: Primary Residence
Purchase: $189K
Repair Cost: $0
Financing: 0% down using VA Home Loan
Loan Terms: 30-year fixed at 5.25%
Bonus: $8,000 tax credit for first time home buyers based on the 2009 Economic Stimulus Package
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I purchased my first home in 2009 when I returned from an overseas assignment, after the 2008 housing market crash. I was not real estate savvy or was I watching the market but the timing could not be better. Until this day, I consider this purchase a blessing.
It was a perfect home: cute, safe and move-in ready! I lived there for 3 years until my next military PCS (permanent change of station). In the next 6 years and 3 duty stations, the condo was occupied by a local friend while I was doing my military duties all over the world. I was very happy that someone picked up the mortgage payment!
In 2018, I returned from another overseas assignment and put the condo on the market so I could purchase another home in the new duty location. The condo was under contract in 2 days and sold in less than 30 days. The sale price was over 2x of the original purchase price 9 years ago.
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Return: Infinite. The profit from the sale was reinvested in 4 residential and 1 commercial property.
