All Forum Posts by: Adina McCollough

Okay Tim, 

I actually know there shouldn't be PMI considering there's no mortgage on the deal but for some reason I threw it in there anyway.

What I'm not familiar with is cash on cash. Because the purchase price is so small I didn't think a loan would be the best option. What would be a good target cash on cash return?

I updated the numbers...
https://www.biggerpockets.com/buy_and_hold_results/1356809.pdf?c=1575831139

Hi @Tim Herman I updated the analysis using your recommendations and attempted to delete this post however I don't know how to do that. Please see the update in the forum.

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey Trevor, I just checked out the Chrome Plugin, it seems very helpful. I input a few different address to see how the service would respond and the information on opportunity zones was correct. 

I look forward to a few of the enhancements I noticed are planned in the future.

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*This link comes directly from our calculators, based on information input by the member who posted.

@Jonah Bee

Any update for us?

Greetings... 

I've prepared a Private Lender Package for potential lenders and I'd like the opinion of the BiggerPockets community.

I'm asking for $30k at 10% non-recourse for 5 years in exchange for the 1st lien on a home valued at $160k. This would be an interest only loan paid at $250/mo. for 60 months to pay out $15k total with the original $30k balloon payment at or before the 5 year period for a total payout of $45k. 

Please let me know your thoughts as I've never prepared a private lending package and I'm not exactly sure if this is favorable enough for my first private loan. 

You can charge an option fee of let's say $5k for you and sell the house to someone else that can essentially take if the payments. Someone else may have a better answer but good luck!

I have two properties under contract (2.3 acres and a 29k sqft building) I've been sending the data sheets out to retailers with no interest thus far. I know that are excellent deals, should I look for developers to help me find interested parties?

@Jose Hernandez 

Anything good in the Chicago market? I'd be interested please feel free to email me.