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Our mission at The Midcoast Group is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Tuesday, April 12, 2016

How We Showed Erik L. the Ropes of Buying Homes to Flip



Tell me about your experience working with Erik Brown and The Mid Coast Group

"It's been a pleasure working with them. As far as results, I've been getting business. The real estate that I bought for them has doubled or something it's been a very good experience. It's been better profit margins, better properties, the due diligence before we go in and work on properties are excellent.


My whole relationship started when I met Brandon Meter. I had a very small company. We were going to try to buy and sell houses and just do flip projects. When I met Brandon, he took me under his wing and showed me how things worked. Now, I've branched out of small flip properties. Now I've got properties I intend to rent out. Most recently, we had the opportunity to talk about doing development projects, which is very exciting.


I was purchasing my first property that we were going to sell for over $1 million, Brandon came up with not only comps in the area, but several versions of comps. He got comp spreadsheets for the best case scenario, and then he got a comp spreadsheet for a middle-of-the-road scenario, and he got comp spreadsheets for the worst case scenario. He really showed me that if we did these types of things, these were the things we can expect. I know that hours upon hours of work went into this. It was 50 homes or so he was able to look at and narrow those down to several dozen to do the worksheets. It was a very good experience to get those comps together, and really realize where this first million dollar home of mine would land on that spectrum."
To contact Erik Brown and the MidCoast Group call 612-294-0447 or visit www.themidcoastgroup.com.