First time investment using OPM on a 3 property buy/hold bundle.

[Michael Perez]

Moved to Harrisburg from NY. working for the state. on the side building a portfolio in real estate . working on my first purchase.

-my background was construction, used to build show cars. built and entertainment group/company covering ny/nj and some surrounding states for 7 years (stepped down & sold it off).

-Now I have created a team of lenders and wholesalers in the area to provide me with deals and have a few contractors under my belt to perform work. still looking for a mentor. have been studying for 5 months and wholesaled a few properties. getting into flips and buy/holds.

-my first purchase is a 3 property buy/hold bundle from a wholesaler. the dilemma, I am having is my numbers to my spreadsheet calculators do not look good at all. asking price is way off. ran the numbers to be under the 70% rule to find an asking price and using the BRRRR method. what the wholesaler is asking this is no profit to me. numbers come to a negative. I will try to negotiate see how it turns out. here is what they are asking vs. my numbers to make a profit. could use help on determining a good deal or not.

Now the spreadsheets will be a combined $ amount for 3 properties.

ARV's -

$30,485- 5bed 1 bath

$30,033- 3 bed 1 bath 

$34,965- 5 bed 1 bath

tenants utilities & annual taxes are taken into account

loans are from private money and refi from bank

1 pic will show a purchase price of $79,000

&

2 pic will show a purchase price of $34,443. which I believe makes sense. (I could offer $40k which still within profit range)

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