All Forum Posts by: Alex Jacobson

Hello BP friends,

Thank you for showing interest in my project. Here is one property I have been most interested in. I am in the beginning stages of finding financing. But I will still need a partner to come up with the initial downpayment.
Purchase Price: $284,900After repair value: $600,000+Actual cost of Repairs: $100,000-125,000 (estimated cost of repairs $159,046) * the lender will use an estimated cost to give us the construction loan lets pick the larger one.
Rules of thumb on pueblo: Each bedroom will rent for $500Each unit is worth about 100,000K sold
6 Units rented= $8,000 (16 bedrooms)6 unit apartment=$600,000.
This unit is being sold via wholesaler because it as a structural issue in the back two units. (hence the price!) The front 4 are occupied and rented. Cost of the structural repair is estimated to be $60,000 See below:https://manage.kmail-lists.com/subscriptions/web-view?a=WkvEcz&c=01GZHQZ94KFEH1HAD30EDK60PB&k=5e65024c3b2d5bcb06448d142d165a9c&g=WXkNnE&m=01HC0V6X7W1MX4XB5SKRBVX495&r=3bdL2s8X

Why this property? Its close to downtown and the hospital. The tenants would be nurses. One way to maximize the use the building would be to rent it furnished and advertise to the hospital only a few blocks away as medium term renters 3-6 months. Housing is a shortage in Pueblo.
Why Me:I have a duplex and 6 unit building in the area.I have helped my clients buy 6 multi families in Pueblo over the last 3 years
I know this market and have a team of contractors, handymen and property mangers in place.

Why Pueblo:Strong rental marketGrowing economy, industrial steel, wind2nd largest body of water in Colorado Water and room to grow
More details here:https://manage.kmail-lists.com/subscriptions/web-view?a=WkvEcz&c=01GZHQZ94KFEH1HAD30EDK60PB&k=5e65024c3b2d5bcb06448d142d165a9c&g=WXkNnE&m=01HC0V6X7W1MX4XB5SKRBVX495&r=3bdL2s8X

Pro Forma Here:https://drive.google.com/file/d/1bVtyQ6aJg_g59_Fi61z5e8Al2uEnV27o/view?_kx=Bt7toY1xc9RK_qI4tVlkOhN_vkFg9974_-POuj-GRUM%3D.WkvEcz

The wholesaler is estimating it will be worth $443,000 fixed up and rented and after expenses will cash flow $2,290 after all expenses.
With a 65% loan to value I need $155,000 for down payment and construction. I have 1/2 of that looking for an equal partnership (LLP) or private money agreement until we can refinance within a year when the property is fixed up and rents are stabilized.
Let me know what you think!
Alex--

Hello BP freinds,

Thank you for showing interest in my project. Here is one property I have been most interested in. I am in the beginning stages of finding financing. But I will still need a partner to come up with the initial downpayment.
Purchase Price: $284,900After repair value: $600,000+Actual cost of Repairs: $100,000-125,000 (estimated cost of repairs $159,046) * the lender will use an estimated cost to give us the construction loan lets pick the larger one.
Rules of thumb on pueblo: Each bedroom will rent for $500Each unit is worth about 100,000K sold
6 Units rented= $8,000 (16 bedrooms)6 unit apartment=$600,000.
This unit is being sold via wholesaler because it as a structural issue in the back two units. (hence the price!) The front 4 are occupied and rented. Cost of the structural repair is estimated to be $60,000 See below:https://manage.kmail-lists.com/subscriptions/web-view?a=WkvEcz&c=01GZHQZ94KFEH1HAD30EDK60PB&k=5e65024c3b2d5bcb06448d142d165a9c&g=WXkNnE&m=01HC0V6X7W1MX4XB5SKRBVX495&r=3bdL2s8X

Why this property? Its close to downtown and the hospital. The tenants would be nurses. One way to maximize the use the building would be to rent it furnished and advertise to the hospital only a few blocks away as medium term renters 3-6 months. Housing is a shortage in Pueblo.
Why Me:I have a duplex and 6 unit building in the area.I have helped my clients buy 6 multi families in Pueblo over the last 3 years
I know this market and have a team of contractors, handymen and property mangers in place.

Why Pueblo:Strong rental marketGrowing economy, industrial steel, wind2nd largest body of water in Colorado Water and room to grow
More details here:https://manage.kmail-lists.com/subscriptions/web-view?a=WkvEcz&c=01GZHQZ94KFEH1HAD30EDK60PB&k=5e65024c3b2d5bcb06448d142d165a9c&g=WXkNnE&m=01HC0V6X7W1MX4XB5SKRBVX495&r=3bdL2s8X

Pro Forma Here:https://drive.google.com/file/d/1bVtyQ6aJg_g59_Fi61z5e8Al2uEnV27o/view?_kx=Bt7toY1xc9RK_qI4tVlkOhN_vkFg9974_-POuj-GRUM%3D.WkvEcz

The wholesaler is estimating it will be worth $443,000 fixed up and rented and after expenses will cash flow $2,290 after all expenses.
With a 65% loan to value I need $155,000 for down payment and construction. I have 1/2 of that looking for an equal partnership (LLP) or private money agreement until we can refinance within a year when the property is fixed up and rents are stabilized.
Let me know what you think!
Alex--

Hello Yvette,

I would love to talk pueblo! I am a huge believer. 

Curious if you know anyone who would partner with me on this:

and lets find a time to chat!

call/text anytime 303 523 8207

Pueblo, CO 81003 CLOSE TO Downtown CLICK TO Request Access To Photos and Proforma

I am a residential agent, so I can keep my commission at 0% and acquire deals via MLS or my network of Flippers. I have a flip with a 10% ROI but I am short $75,000 of the 150,000 I need to put up for repairs.

this project might be a big step our first project together but lets connect if you are in Colorado or believe in the CO market.

I own 11 doors and believe strongly in the front range market. Specifically Pueblo Co and  beyond. 

1025 W 17th St, Pueblo, CO 81003

TOTAL PRICE: $116K

ARV 250-290

Repair: 35K

Hello investors,

I am ready to add to the portfolio and want to utilize a commercial loan 4+ units and an DSCR loan. Any tips and tricks for what to look for? I have one DSCR loans/ income properties but still consider myself to be a novice.

Thank you

Hi joe,

I will be sure to add some more detail on the next one. Thank you for the reply. I purchased the property 3 years ago for 700,000 with 5% down. I believe it to be worth about 1.1M-1.15 M. My fastest appreciating property to date. 

Investment Info:

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

Purchase price: $240,000
Cash invested: $40,000

Duplex, with immediate cash flow.

How did you add value to the deal?

Completed the backyard with landscaping and concrete patio. Updated appliances and painted the interior.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $380,000
Cash invested: $35,000

Great townhome and rental. 4 Bed 4 bath for increased rent.

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

The location. The bedroom and bathroom count.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $700,000
Cash invested: $90,000

Single Family residence in a rapidly appreciating neighborhood. The cheapest home in the immediate area.

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

The price was excellent, the house had been on the market for 6 months.

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

MLS, negotiated directly with the seller not their agent.

How did you finance this deal?

MLS

How did you add value to the deal?

Finished the basement.

What was the outcome?

Great equity hold!