Episode 20 - The Portfolio Deal, Part 2
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:
- You can partner on a deal without having a long-term partnership
- Logistics and project management are key skills for a flipper
- Never give upā€“thereā€™s always a solution out there
Episode Resources:
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