Mastering Real Estate

Episode 20 - The Portfolio Deal, Part 2

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Deal Details

  • Addresses: 43 Houses throughout Birmingham...
  • Type: Mostly all tenant-occupied rentals
  • Average Year Built: 1966
  • Average SF: 1,607
  • Average Mix: 3 / 1.5
  • Year: Summer 2019
  • Timeline: 2 months
  • Purchase Price: $2.52M
    • Down Payment = $630,000 (20%)
    • 2 x 1031 Exchanged Flips = $130,000
    • Raised $500K from private investors
    • Strategy:
      • Flip & sell 31 properties to investors through RP Capital = $1.6M
        • Payback investors & bank
        • Keep 11 properties = $500K ($5,500 Monthly Cashflow)
          • Split between Danny & Duratus

            • Key Takeaways:

            1. You can partner on a deal without having a long-term partnership
            2. Logistics and project management are key skills for a flipper
            3. Never give up–there’s always a solution out there 
               

              4. Episode Resources: 

              • Slideshow Link

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