All Forum Posts by: Antonio Davis

There are definitely lots of cash buyers out there. I sent you a request Frank.

14 unit deal! $1 Million in Equity.

New Lender is has been spoon feeding me required items to close. I have to close this Friday. I’ve had 5 extensions.

20k a month and 1 million in equity (after rehab) is on the line. 

What can I do to get this done or should I try and wholesale by Friday?

Definitely a success. Rehab was 15k. I ended up with a jack of all trades and I didn’t look at any of his finished jobs before hiring him. He cost me 2 to 3 times what it should have cost because he had to buy “just in case i mess up extra materials” to do the job. And he did mess up. Quality wasn’t there and he left the job without finishing because the about of work was more than the amount of pay he had coming and he knew I was satisfied with some of the quality. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $57,500

Buy and hold for a BRRRR.

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

Location.

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

Zillow

How did you finance this deal?

Owner Financing.

How did you add value to the deal?

Rehab in the kitchen and living room.

What was the outcome?

Rents for 1200mn.

Lessons learned? Challenges?

Vet your contractors.

They keep changing the date they can close. they want a 6th extension but its not possible.

14 unit deal!

New Lender is has been spoon feeding me required items to close. I have to close this Friday. I’ve had 5 extensions.

20k a month and 1 million in equity (after rehab) is on the line.
What can I do to get this done?

14 unit deal!

New Lender is making excuses. I have to close Friday. I’ve had 5 extensions.

20k a month and 1 million in equity (after rehab) is on the line. What to do?

I have a buyer who is using a loan for a 2.6M purchase. The lender says underwriting might give us a hard time with the large fee attached to the contract. I have a creative way for someone with 2.1M liquid to get their return back the same day as closing. If anyone has experience with this please respond and I’m  willing to PM someone that can help. I’ll go into more details. Serious inquires are appreciated.  

@Danny Randazzo

This is 1.4 miles to Augusta Nationals for the Masters. Avg rent is 815. Letter from zoning stating the conversion is ok. I’ve actually done property management in the area for 8 years and quality tenants wouldn’t be a concern. 

We have it under contract and are looking into our exit strategy. It’s a great flip or hold as well. We are possibly just going to wholesale it. I would appreciate any information or help with this.