All Forum Posts by: Alexander King

@Alexander King It depends on the type of property. If it's residential, it could be lower than $5k, if it's commercial property, it could be on the higher end of that range.

THANKS!

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Quote from @Christian Block:

In our practice we have used quite a few cost segs from KPKG (just one example), which are calculated using software. They are not as robust as having an actual engineer come out to preform the cost segregation, but are much less expensive; probably $600-$1,000. We are comfortable using these on residential properties (they generally error on the conservative side), but for a commercial property, or even a multi-unit residential property, I think you want the cost segregation performed by an actual engineer.

Okay thank you for the heads up!

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Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $235,000
Cash invested: $150,000

Bought this condemned property back up to speed after there was a fire. Property was in a flood zone and lost the CO. Upgraded electrical, plumbing, hvac, roof, kitchen added 2 baths, and full interior cosmetic rehab. Appriased out at $525k (low).

What made you interested in investing in this type of deal?

Brrr method

How did you find this deal and how did you negotiate it?

Drive for dollars, boards on window. Called owner 6 mo straight and met at property and beat out other contractor.

How did you finance this deal?

Pinnacle Financial Private Capital

How did you add value to the deal?

All Capex items

What was the outcome?

$525k appraisal

Lessons learned? Challenges?

Flood Zone, bringing property back up to code from being condemned

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No, just lender. Pinnacle Financial

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I had been using ATTOM. I went to ask a question about a list pull and they fired their entire staff for helping people pull data... why? Now it is all self service (miserable). I have a list of 40k records pulled from a set of 280k records. I want to re-pull data out of that 280k BUT suppress the 40k I already pulled. Anyone out there with this experience?

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Per property how much are people currently paying per property for cost seg? I heard its 5-10k per property.

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I was listening to Cody Sperber and he mentioned that smart data is now filtering big data to predict when someone will sell and at a discount by using different algorithms. Does anyone know any companies that I can reach out to who work with smart data technology?

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Investment Info:

Condo buy & hold investment.

Purchase price: $130,000
Cash invested: $30,000

Condo in Branford Ct. Picked up from wholesaler, tax here is cheap 2500, insurance on condos are cheap because interior only (200/yr) but hoa are $225. Condo is worth about $230-240k

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Yes that does make sense. I meant just these deals in general. Not as a hybrid.

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Quote from @Dustin Burke:

We have opportunities and can handle all the monthly responsibilities.

https://www.blueskypropertieskansas.com/

https://investornoteservicing.com/

https://elitecontainerhomes.com/

I am open to seeing the options

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Has anyone else seen a fluctuation in this type of structured deal? Sub to especially because of today's higher rates.

Alex King

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All Forum Posts by: Alexander King

Alexander King has started 29 posts and replied 60 times.

Post: Cost Seg, price.

Post: Cost Seg, price.

Post: BRRR Three Family CT. From Condemned to Cashflow.

Post: Currently using ATTOM DATA

Post: Cost Seg, price.

Post: SMART DATA. What companies are in this space?

Post: Condo Brrr Branford CT $1000 cash flow, super low insurance

Post: Sub To & seller finance

Post: Inheriting $400K, what would you do?

Post: Sub To & seller finance