The Propelio Team enjoys hearing about deals our members have found while using Propelio. We spoke with Nick M. recently who’s been using Propelio. Nick has completed deals with the help of Propelio and kindly agreed to take part in a case study. See what Nick has to say below.
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I’m a real estate investor and have been investing since November of 2015. So far, I’ve completed one flip, with the help of a partner, and I close on my second deal on July 17th. My primary investment strategies include fix n flip, owner financing and also some wholesaling.
I discovered Propelio about four months ago, and it’s real helped me with my real estate investments. One thing that helps significantly is the ability to quickly get comps on properties, and then evaluate properties in the area and their level of finish. This information tells me what I need to do to a property to get the resale value that I need. I also like the Deal Finder which helps me locate properties that I might be able to get a discount on. My July 17th deal is one that I found using Deal Alerts.
I also find the daily leads list, that Propelio sends out, extremely helpful. With these leads, I send out regular mailings, and have had numerous meetings with sellers thanks to those leads. I haven’t yet tried emailing or calling those leads yet, but that’s next on my strategy for things to try.
Regarding the property that I found on Deal Alerts, it’s located at 3709 Dunhaven, Dallas TX 75220. It is a small 1,200 square foot (or so). It is in pretty bad shape. My plan is to do a fairly significant rehab ($86k) and add 450 square feet to the back of the property. I expect the profit to be between $20k and $50K. The deal is not yet complete. As mentioned, I plan to close tomorrow.
After the rehab work, ideally my exit strategy would be to flip it. I may decide to turn it into a rental depending upon the numbers. It is in an area of town that is pretty hot for investment right now. So, it might make sense to hold onto it for a while.
Disclaimer
Case studies, and examples are exceptional results, may not reflect the typical Propelio users experience, don’t apply to the average person and are not intended to represent or guarantee that anyone will achieve the same or similar results. The Company is not responsible for any errors or omissions in case studies information provided to it by reputable third parties using the software.
