Thats a great deal! Congrats! Isn't it fun prospecting for great finds like this one? I am on the trail...and hope to find one soon, too! Thanks for sharing all the details!
Amazing, as always! May I ask, how did you end up running into this deal? Something attracted you to Valparaiso? Someone brought the deal to you? Or how did you find it? Thanks for everything you do, Kirby! 🙌
Great question! I have searches set up in the three towns that I purchase in: Valparaiso, Chesterton, and Michigan City. These three towns check the box of low average purchase price and highnightly rate/occupancy for STR's. When properties like this pop up, I reach out directly to the listing agent. So that's exactly what I did in this case. I met her over at the property the same day, did a quick walk through, then signed an offer. There were many more offers, but because mine was first and the listing agent got to double end the commission by representing me and the seller, she worked to get my offer accepted.👍
This is actually a lot easier than most people thing. Many normal people have 401k's or IRA's that are invested in the stock market (mutual funds) that are getting 8% on average over the long term if they pick the right funds. Lots of people would rather self-direct (you can check out my other videos on how to self-direct an IRA) their retirement accounts and invest in a tangible asset like real estate at consistent fixed double digit returns. It's appealing because they know that no matter how the stock market is doing, they will get their 10% interest, and it's backed by a mortgage on the property. Most people don't know how to invest in real estate though, so if you create a one to two page document outlining a deal like this, and share it with everyone in your network (and extended network) they can then see this tangible asset and what type of returns you will provide them, it's a super appealing opportunity for many people who think they have to invest in mutual funds. 👍
Absolutely! As soon as we’re done with the rehab, I’ll be creating another video to show what it looks like afterwards. Like I said in the video, we are anticipating around $200,000 in repairs, but I’ll share what it actually cost in the final video.
Congratulations on the new investment and thanks for sharing the breakdown! 🙏
Thanks for tuning in! :)
Thats a great deal! Congrats! Isn't it fun prospecting for great finds like this one? I am on the trail...and hope to find one soon, too! Thanks for sharing all the details!
Thanks a lot Carlos! The thrill of the chase is definitely real! Always fun to find something that checks all the boxes! :)
Amazing, as always! May I ask, how did you end up running into this deal? Something attracted you to Valparaiso? Someone brought the deal to you? Or how did you find it?
Thanks for everything you do, Kirby! 🙌
Great question! I have searches set up in the three towns that I purchase in: Valparaiso, Chesterton, and Michigan City. These three towns check the box of low average purchase price and highnightly rate/occupancy for STR's. When properties like this pop up, I reach out directly to the listing agent. So that's exactly what I did in this case. I met her over at the property the same day, did a quick walk through, then signed an offer. There were many more offers, but because mine was first and the listing agent got to double end the commission by representing me and the seller, she worked to get my offer accepted.👍
@ Love it. Thanks for the detailed explanation, Kirby. You are the best!
how do you find private money at 10 Percent
This is actually a lot easier than most people thing. Many normal people have 401k's or IRA's that are invested in the stock market (mutual funds) that are getting 8% on average over the long term if they pick the right funds. Lots of people would rather self-direct (you can check out my other videos on how to self-direct an IRA) their retirement accounts and invest in a tangible asset like real estate at consistent fixed double digit returns. It's appealing because they know that no matter how the stock market is doing, they will get their 10% interest, and it's backed by a mortgage on the property. Most people don't know how to invest in real estate though, so if you create a one to two page document outlining a deal like this, and share it with everyone in your network (and extended network) they can then see this tangible asset and what type of returns you will provide them, it's a super appealing opportunity for many people who think they have to invest in mutual funds. 👍
Show us your remodel and cost and final please
Absolutely! As soon as we’re done with the rehab, I’ll be creating another video to show what it looks like afterwards. Like I said in the video, we are anticipating around $200,000 in repairs, but I’ll share what it actually cost in the final video.