Rock Hill, SC Fix/Flip #4 First Right of Refusal Agreement!
This property was originally listed on the MLS for $220,000, and within minutes, we submitted an offer of $160,000—contingent upon a walkthrough—because we had recently completed a flip in the area and knew its true market value. The sellers accepted our offer, drawn to our ability to close quickly, our flexibility, and our guaranteed closing. After inspecting the property, we discovered it needed more work than anticipated and successfully renegotiated the price down to $142,000. However, the sellers later found out they couldn’t secure financing for their next home, leading them to attempt to back out of the contract. Rather than forcing the sale—which we didn’t believe was the right thing to do—we negotiated a First Right of Refusal agreement instead. This means that whenever they are ready and able to sell, we have the exclusive right to purchase the property at a predetermined price before they can sell to anyone else. For example, if they decide to sell in five years, we get the first option at the agreed price, ensuring our efforts on this deal weren’t wasted. In real estate, unexpected challenges are inevitable, but success comes from creativity and adaptability. Deals don’t always go as planned, but with the right approach, you can turn obstacles into future opportunities!
Rock Hill, SC Fix/Flip #3 Fell Through 🙁
Not every deal goes as planned in real estate. Unfortunately, this one fell through due to a misalignment between the wholesaler and the seller. However, we had safeguards in place to protect ourselves, ensuring that all due diligence and earnest money were fully refunded. Situations like this are a reminder of why it’s crucial to structure deals properly and mitigate risk from the start. While setbacks happen, they’re just part of the game. The key is to stay focused, learn from the experience, and keep moving forward to the next opportunity!
Rock Hill, SC Fix/Flip #5 Under Contract!
We came across this property through a Facebook investing group where a wholesaler was marketing it. We immediately reached out, scheduled a walkthrough with both the wholesaler and the seller, and reviewed the numbers. The wholesaler’s asking price was $120k, but after our analysis, we submitted an offer of $115k. It’s crucial to always stay true to your numbers, even if it means offering below asking. What made the difference in this deal was our approach: we were upfront, fast with our offer, and easy to work with. Despite receiving higher offers from others, the wholesaler chose us because of our track record of closing deals and our straightforward process. Sometimes, the terms and reliability of the deal matter more than just the price. We’re purchasing this property for $115k, with an estimated $40k in rehab costs, and we expect the ARV to be between $210k and $220k. While this deal is a solid “base hit,” it should be a relatively easy flip with minimal capital required for a nice return. The property is currently going through probate, which will delay closing, but we expect to finalize in the next month or two and then get to work.
Charlton, MA Multifamily Stabilization Project Under Contract!
This deal comes from a seller we’ve worked with before. A few years ago, we purchased an 8-unit property from him, and the process went smoothly—helping him get out of a challenging situation. Because of our positive experience, he reached out to me again for this opportunity. This time, it’s a 7-unit property (a package of one 4-unit and one 3-unit) with a similar situation to the previous deal. The seller has low-paying tenants, the buildings need significant work, and he’s been struggling to sell it. He initially brought the property to us at a price of $700k, but we were able to negotiate it down to $675k. To make the numbers work on our end, we also secured 10% seller financing at a 5% interest-only term, which is a win-win for both sides. We plan to purchase the property for $675k, invest between $180k and $200k in renovations, and raise rents significantly (almost doubling what they are now). Once completed, we’ll either sell or hold the property. After all is said and done, we anticipate the property will be worth over $1.1M, ensuring a strong return on investment. We’re on track to close by the end of March and are excited to get started on this one!
Rock Hill, SC Fix/Flip #4 Closed!
We’re excited to announce that we officially closed on this property in late February! We acquired it for $225k and have budgeted a maximum of $20k for renovations. With an expected ARV of $310k-$320k, this is shaping up to be a quick flip with strong profits. We’ve already cleared out the property and begun cosmetic improvements. With a 2-3 week timeline to completion, we’re on track to list it back on the market shortly after finishing the updates. Looking forward to seeing this one come together!
Waxhaw, NC Whole-tail Renovations Completed and Listed!
We’re excited to announce that we officially closed on this property in late February! We acquired it for $225k and have budgeted a maximum of $20k for renovations. With an expected ARV of $310k-$320k, this is shaping up to be a quick flip with strong profits. We’ve already cleared out the property and begun cosmetic improvements. With a 2-3 week timeline to completion, we’re on track to list it back on the market shortly after finishing the updates. Looking forward to seeing this one come together!
Charlotte, NC Fix/Flip Renovations Started!
Renovations are officially underway on our Charlotte, NC fix-and-flip! This deal was sourced through our real estate agent network, where we connected with an agent representing a seller in a time crunch. The seller needed the proceeds from this sale to secure the loan for their new property, which was already under contract. We stepped in quickly to help alleviate their stress, ensuring they could close on their new home on time. We acquired this property for $260k, and the after-repair appraisal came back at $390k—higher than the $370k we initially underwrote for, which is fantastic news!
The property needed some minor touch-ups and a full kitchen renovation, where we’re expecting to invest around $35k-$40k. Additionally, we’ve opened up a wall between the kitchen and living room to create a modern, open-concept layout that’s already looking incredible. We’re on track to complete renovations and list the property by mid-to-late March. Stay tuned for more updates as we move forward with this project!
Rock Hill, SC Fix/Flip #2 Cosmetic Portion of Renovation Underway!
This project has certainly tested us with almost every challenge imaginable—delayed permits, stop-work orders, unexpected leaks, and even some subcontractors going MIA! But despite these hurdles, our team is now making great strides with the cosmetic renovations, and things are finally coming together. We’re on track to complete the project around the middle of March, with plans to list it shortly thereafter. While this project was originally slated for completion two months ago, delays like this can make or break a deal. Fortunately, we always underwrite conservatively, factoring in extra renovation costs and longer timelines for situations just like this. Because of that, we’re still on track to achieve the anticipated profit. That said, we’re eager to wrap this one up and move on to the next project. Real estate rarely goes exactly as planned, but that’s part of the game. It’s all about staying adaptable, solving problems as they come, and pushing forward.
Despite the challenges, this is going to be a stunning finished product, and we’re excited to see it through. We’re wrapping up this week, and it will be listed by the middle of March!
32 Unit in Lancaster, SC
We’re excited to update you on 1045 E Meadow Drive, a key property in our portfolio. After an initial buyer withdrew due to financing issues, we pivoted to a refinancing strategy that will support continued growth and enhanced returns for our investors. We’ve selected terms for a cash-out refinance, expected to close within 45-60 days, with an LTV of 65%-70%, a 6.33% interest rate, and a 30-year amortization, resulting in an anticipated cash-out loan of $1.725M. The proceeds will fully repay accrued preferred returns, initiate regular monthly distributions, strengthen the operating account, and fund further improvements. Since acquisition, the rent roll has doubled from $15k to $30k/month, and with additional rent adjustments and utility cost-sharing, we plan to increase it to $32k/month. By doing so all rents will then be above $1,000 per unit, with annual 3% increases upon lease renewal. This refinancing strategy will enhance cash flow, support stabilization, and position the property for sustained growth. We’re confident in the long-term potential of this asset and are excited about the positive outcomes for our investors.
Salisbury, NC Novation Sold!
Our novation agreement rehab is complete and SOLD! In just two days, we received three offers, with one coming in $10k over asking, which we gladly accepted for $225k. We invested around $35k of our own capital into this deal and walked away with a $40k+ profit, plus our initial investment, all within just 3 months. That’s an annualized return of about 550%! It’s been a win-win for everyone involved.
Worcester, MA Duplex Land Subdivision - Sold!
This duplex was one of our first deals that was BRRRR’d. Currently the property is stabilized and providing exceptional returns. We worked with the Worcester, MA zoning department to get an approval to subdivide some land on the property that will allow us to either build another single family, duplex or sell off. We put the land up for sale and have accepted an offer of $130k! This was $10k higher than we expected which is fantastic. The cherry on top is that the total profit from this land sale will be 100% tax free. This is due to the land being initially part of the duplex, which was Wendell’s primary residence a little over a year within the past 5 years. If you live at a property for more than a year, you can get tax free long term capital gain income up to a certain amount. Usually it is up to $250k if you lived there 2 years out of the past 5 years and $125k if you lived there for 1 year out of the past 5 years (please confirm with your accountant depending on your situation as I am not an accountant). After closing costs, we walked away with around a $123k profit, just below the $125k cutoff, meaning it is all tax free profit! This initial house hack duplex deal has become a home run of a deal and we are excited to immediately put these funds into the next project!
Rock Hill, SC Fix/Flip #1
Our first Rock Hill, SC fix/flip has officially closed! This was a great base hit fix/flip where we made around a $15k profit on $40k spent within 3 months. That is about a 170% return on our money annualized. It was a little less profit than we would like, but with the market turning a little soft recently from the season and the election we are still thrilled to make a new homeowner happy and move onto new deals.
8-Unit in Putnam, CT
One of our first large multifamily investment projects came to a full cycle this year. We bought this property around 2 years ago for $470k, put about $130k into it and took it from only producing $34k gross annually to around $130k gross annually. We then sold it for $1.0375M with a total cost basis of around $600k. What a deal this was! We learned so much from this deal and it put us on the track we are on today. From dealing with the tenants, evictions, setting up our own property management, leasing out units, hiring a third party property manager, dealing with town zoning/regulations and facilitating all the renovations, it really was like going to real estate school. Although it was hard to sell, since it was sort of our baby and we do love long term investments at heart, the gains/profit that we received from the sale has allowed us to hit our stride full force. We will be looking to put out a case study video on this project to help educate anyone interested in the power of real estate, stay tuned!
