All Forum Posts by: Alex Wade

$130,000 ARV

Can you send more info?

CHEAP buy-fix-sell opportunity in Hammond Park! House had a previous fire but the framing is mostly intact - Damage is mostly to the sheetrock from smoke. House needs a complete rehab and I suggest removing the soft-coat stucco and replacing with hardiplank. House sits on a deep lot and comps are both in my subdivision with SINGLE DIGIT days on market.

Off Market Douglasville rental needing minor cosmetics to be rent ready. House is in good shape and needs mainly paint and flooring. Recent rental comps suggest $700/month but they were duplexes so I would consider shooting for $725-750/month.

Thanks for your feedback guys. What do you think about our comp 901 Chesterfield Drive that sold for $260 and is only 1488 sq/ft. MLS# 5748464

Off market brick ranch in Lawrenceville 10k cheaper than any house sold in last 9 months from MLS data. Overall in decent shape, needs cosmetic updates. All of our comps are "well maintained" and not renovated, therefore I think we're worth at least 10k more than them. Add a 2nd bathroom, plenty of space. Could also rent out the property with light touch ups

Purchase: $82,000

Rehab:$38,000

ARV: $155,000

Call for more pictures and video:  6364484497 [email protected]

Great new off-market property in Marietta zoned to Sprayberry. Solid brick ranch with a finished partial basement:

Purchase:$157,000

Rehab: $50,000

ARV: $260,000

Call Alex for more info 6364484497  [email protected]

See Link for Photos

https://goo.gl/photos/BTHNFEywAnxGRwrv5

Walk to Piedmont Park. Solid deal in the heart of midtown. The property is in pretty good condition but still needs some rehab. Solid comps with low DOM.

Call for more information 6364484497

[email protected]

I understand.  This is a great opportunity for the right investor and an amazing deal for an all cash investor.  Even with Hard Money you can expect a pretty good pay day when you are finished with this project.  

Estimated Profit using Hard Money 90/10 Program & Double Closing Cost $28,915 ( Not Bad for 1-2 Months of Work)

Sales Price $300,000

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Less

Purchase: $207,000

2X Closing Cost: $4000

Rehab : $30,000

Insurance: $600

Appraisal: $550

Processing Fee $1,100

Points: $7,465 (3.5 Points)

Interest: $2370 (12%)

Agent Commission $18,000 (6%)

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Net Profit $28,915

Thanks for the Response @Parker Stiles  

Did you see:

-2690 Tritt Springs Trace sold all the way back in June of 2016 (the comps I pulled are more recent)

- Is only 1676sq/ft above ground. (Our subject property is 2304 sq/ft above ground)

- Once Again, 2601 Post Springs Court sold in June of Last year (More than 6 months back)

- Is only 1618 sq/ft above ground (significantly smaller than our subject property 2304 sq/ft above ground)

- Most Investors are happy to buy a higher percentage deal if they are able to finish the rehab and list the property in a month.  (Time VS Money)

- Using your Comps My ARV would be closer to $321,000 Not including the added value for the added bedroom that we have. ( I tried to pull only the most relevant comps and be as conservative as possible. I called my ARV only $300,000)

Comps from the MLS please see below:

#5693700 S 2536 Rocky Springs Drive 4 3  1984 3,685 $325,000 05/19/2016 

#5757748 S 3553 Liberty Ridge Trail 4 3  1979 2,454 $292,500 10/06/2016 

#5742761 S 2513 Kingsley Drive 4 3 0 1976 2,736 $290,000 09/02/2016 

#5736966 S 2673 Tritt Springs Drive 4 3 0 1982 2,326 $285,000 08/19/2016