All Forum Posts by: Adam L.

Curious about this opportunity that came across my desk.

a high quality builder in Phoenix area.

$922k purchase price.

8% leaseback for 18 months, with options to extend leaseback for up to 4 years.

over $100k in upgrades for this one model home.

What do yall think?

So wondering if I could get some advice. An interesting deal came up for a storage unit complex that I'm trying to educate on how to evaluate. 

Asking Price $255k

Rental Income from storage, 21units: $2233/mo

Rental Income from Cell Phone tower, 20yr lease: $8100/yr (need to find out how long is left)

Taxes: -$145/mo

Insurance: -$120/mo

Utilities: $80/mo

Potential NOI: $30,399/yr --> 11.9%CapRate.

This is assuming full capacity and no management costs.

The property will definitely need some TLC and a facelift, as well as paying a management Co (I'm out of state).

The lot size is big enough to expand and construct more units.

It's near a lake and could be marketed as RV/boat storage. More established rentals in the area have an 8mo waitlist.

Any advice?

so an interesting property has come across my inbox. a SFH home in a premium market here. $780k for a 5BR/3BA SFH in a nice neighborhood. The seller wants an 18month lease back, and will continue living there, just as if they hadn't sold it. The seller is offering $3500/mo rent, plus they pay for all the utilities and yard work. To me it seems like some older couple that wants to cash out of their house, but still live there.

The pictures are nice, looks like a well maintained home.

So what's the wisdom of this board think? Guaranteed leaseback, no vacancy, appreciating market, low operating expenses due to continuing the same occupant.

Is $3500/mo guaranteed for 18mos worth the high $780k pricetag? I'm thinking that well ****, even if they move out in 18months, the house will have appreciated even more and I could resell easily.

So an interesting off-market opportunity has surfaced near me. 

12 acres, log cabin, out in the mountains, 30 mins from major airport and metro area. Very 'rural', no cell service, slow internet, etc.

Basically, there's 3 parcels side-by-side, one with a nicely finished 3br log cabin, the 2nd with an unfinished cabin that's been sitting empty for a decade, and the 3rd lot with a horse barn and foundation/framing that could be cleaned/converted into another dwelling. There's a public access boat ramp for a nearby lake/reservoir 10 minutes down the road. The three buildings are all off a shared driveway and all within 500 yards of each other, with the property lines then extending back into the forest for 4 acres each.

Forest, wildlife, hiking, backs up to BLM land. Hell, the owner said he hunts and harvests elk right at the top of the ridge behind the house and shoots a few turkeys each year.

I'm thinking of buying this but the seller is firm on their $700k asking price. I'm thinking I can use this as a family vacation spot as well as AirBnB type property and fix, convert, build out the other two dwellings to use as rentals as well.

Curious if anyone else here has gone through a similar process? Any tips? Any advice for evaluating if it really is a good idea to 'invest' in this rather than stock market or a more conventional duplex type property in town?

yea. wholesaler. Best offer I think...I've found that this one wholesaler often isn't the most forth coming with crucial details...

they had a great option a few weeks ago in Killeen, but it took 5 emails for them to tell me the place was abandoned the last 2 years and that a homeless guy got murdered in it.

@Will Pritchett did you see the closing price? How do you feel at that price? $851k

@Will Pritchett

agreed. See the street view? Doesn't look the 'nicest'

@James Miller, @Bob Norton

Agreed, thank you for that feedback. I'm told there's no upcoming HOA assessments but I have not seen any disclosures yet. Any tips on pressing this a bit deeper?

What would your criteria be for CapEx and COC, IRR? What are your targets?

I'm concerned about the listing price...Tax Assessed @ $30k/ea but wants to sell for $50k/ea and is claiming upwards of $800k ARV.

https://dealcheck.io/s/-MRfvBs...

Wondering what yall think. This is a wholetail scenario...hard money and short closing time window. I would be an absentee owner, but it seems the they're all rented and just in steady state.

• Fourteen units in the same complex, in San Antonio.
• $700k + $12k closing
• all 1br/1ba.
• all currently rented between $750-$850/mo
• described as all units "in great condition with recent updates"
• Rent income = $131k/yr
• Expenses = $54k (HOA, taxes, insurance, utilities)
• avg ~ $50k/unit. Tax Assessed value = $28k/unit.
• hard to get a good comp idea....not much public information on recent sales.

I have not factored in mortgage, vacancy, management fee, CapEx, eventual 6% realtor fee, etc.

Wondering what yall think of an offering like this?

So I'm an engineer and looking to get my license just to have for the few deals that come my way.

Curious, do agents need to be tied to a parent office? Can an agent just operate on their own? No minimum production or any of that full-time job BS? Can I broker my own deals without having to pay a fee to some other office? I would love to get some input on this as I start planning my training.

Maybe of note, I have connections to CA and TX too that may be a better route to get licensed instead...still at exploratory phase.