Investor · El Dorado Hills, CA · Member since 2014 · 447 posts · 62 votes
Purchase Price- $150,000
Rehab- $ 33,000
ARV- $250,000
Comps
1805 28TH ST W, BRADENTON, FL 34205 $247,000
3 bed / 2 bath1,772 sq ftSold 11/02/17
2705 OXFORD DR W, BRADENTON, FL 34205 $232,000
3 bed / 2 bath1,577 sq ftSold 12/18/17
2211 24TH ST W, BRADENTON, FL 34205 $230,000
3 bed / 2 bath1,740 sq ftSold 12/08/17
2716 27TH AVENUE DR W, BRADENTON, FL 34205 $225,000
3 bed / 2 bath1,650 sq ftSold 01/11/18
1220 26TH ST W, BRADENTON, FL 34205 $223,000
3 bed / 2 bath1,566 sq ft
Property Details
This is a great opportunity to pick up a solid 4 bedroom and 2 bathroom house in a hot area. Prices in the area continue to rise as more properties get rehabbed. Property needs a new roof, exterior paint and then mostly just updating of the interior.
@Dustin Rose - we can arrange for 100% on the Purchase and Rehab, as long as your numbers fall within 70% of ARV or less with a minimum of 150k ARV, which looks like you have. 5.5% origination points, 10-13% I/O with a 12 month term - [email protected]
I just purchased a property at 2014 graham st in Daytona beach. The ARV appraisal is 195k and I purchased the property for 98k. Rehab is going to be 41-45k depending on how the ac unit checks out.
Generally I’ll use cash to purchase properties that Need to close quickly and then refinance that cash out with a JV lender to have it available for the next property. On this I could either cover the rehab if you want to cover the 98k or if you want you could cover the rehab and I’ll keep my 98k in the property- either way is fine with me. I can send you the appraisal report and rehab bid if you like- just send me your email address. I’ve got a couple other properties like this and generally tie up 2-5 properties a month if You’re looking for more deals.