Featuring Brad K. – Utah
Creating Wealth with Live-In Flips
Brad Kroepfl started real estate investing in 2021 with his wife. It’s a side hustle—apart from his many active businesses and careers in sales, powersports, and consulting. His goal in real estate is to create enough passive income to cover their lifestyle.
His strategy in real estate is very simple: live-in flips (or house hacking) and rentals. In 2021 he bought 4 off-market deals. Some became rentals, others live in flips to fuel his next deal.
Brad is an active individual both in powersports, sales, and business and you can find more about how he grows multiple businesses here: https://www.bradkroepfl.com/
Here’s how he how he netted $93,000 in 30 days…
From one seller, Brad was able to earn himself two deals that’ll squeeze out:
- $93,000 in direct net profit
- $106,000 in equity
- $1,400 (potential) cash flow a month
The seller was an elderly landlord who needed to free up cash from his assets.
One of the deals Brad will immediately turn it around and re-sell with no rehab. He closes in less than a week (at the time of this writing), and will have only held it for 32 days.
The second deal he’ll be converting into a duplex. To do this, he’s adding 3 beds, 1 bath, and a kitchen to the basement. The 2 units combined will gross $4,200 a month in rental income.
- Purchase price: $340k
- Rehab: $0
- Re-sale Price: $460
- Exit Strategy: Wholetail
- Hold time: 32 days
- Net profit: $93,000
- Purchase price: $440K
- Rehab: $50K
- ARV: $650k
- Strategy: Convert from SFR to Duplex. Keep
- Potential Cash Flow: $1400
The Importance of Follow Up
It took Brad almost 1 full year to get this deal. He mailed in Febuary 2021, and finally got contract signed in January 2022.
Most people would have quit following up after a couple of months.
And if you think about… it’s not hard work.
He’s not breaking pavement, digging holes… he’s just making a few phone calls, mailers, text messages, etc.
So, a $93,000 paycheck, with over $100,000 added to his net wealth is not bad for a few phone calls throughout the year.