All Forum Posts by: Thomas Fish

Hi again, everybody. I will be writing to you directly today regarding a couple partnering deals that are available right now. All the ones in April were sold and closed, so what I will be sending you will be what is available right now in May. For those of you who I can't write directly, here is one deal that is available:

18 units consisting of two 5-plexes and one 8-plex. 100% occupied and cash flowing nicely. The two 5-plexes are 100% college-student housing. The numbers look like this:

Total price: $340,000, with $35,000 down ($25,000 from you as a partner). Gross Rents are $7505 per month. Expenses, including land contract payment, is $3400. So the net cash flow is approximately $4000 per month divided by 2 = $2000 per month each.

If interested, and for more details, please write me directly.

Thanks.

Tom

Will, I hear ya. I apologize for the delay on the info in March. I have been actually DOING these deals for the past two weeks and will be tied up for the next few days as well. But I will post the properties available for April and all the numbers, details, etc. within the week. Thanks. Tom

Joel: On the smaller units, those things are figured into the cash flow each month and set aside in the LLC. On larger units, they are sometimes a part of tranferred escrow, sometimes put INTO escrow up front and deducted from the gross each month as well. Will and David: Will do. Bryan: that will take a lot of space, but I will do that in the near future. THANKS!

Joel: On the smaller units, those things are figured into the cash flow each month and set aside in the LLC. On larger units, they are sometimes a part of tranferred escrow, sometimes put INTO escrow up front and deducted from the gross each month as well. Will and David: Will do. Bryan: that will take a lot of space, but I will do that in the near future. THANKS!

Thanks Will. I can write you directly with specifics of each deal so you can break them down. I've erred conservatively, the numbers come out as I've said. Each deal differs. I will send specifics to you. Thank you.

The LLC wants to buy it on land contract: small down with monthly payments from the investor who takes it down for cash.

I have a house here in Michigan at the early stages of its 6-month redemption period (was foreclosed on in early March). The bank will actively consider a short-sale. It's a single family house and has an 88 year old woman living in it (she's lived in it since 1970) and hopes to continue doing so for the remainder of her life. It also has an end-buyer in place, an LLC who will buy it on land contract from an investor who gets it in short sale. Some figures: the house foreclosed for $140,000. The BPO is approximately $125,000. Michigan...short sale.... the bank may accept something like $75k. The LLC will buy it for $110k at 7%. If interested, just send me an email. Thanks. Tom

I know your ad is older, but I have a guy on foot in Muncie and he's got a great commercial prop on his radar right now. 190 unit storage plus 4 commercial units. If interested, let me know and I'll put you in touch with him.

Jon, good points. I was posting here to generate a general interest and then get into specifics by email. By next week, I'll have some deals posted on my website... and I'll list that here too, if that's kosher. It seems like when I post email addresses or websites, they get X'ed out. Anyway...

I see it a little differently than how you've laid it out with a sort of 80/20 split. I'm doing them 50-50, mainly because I'm here, I've tied up the deals, I've driven all over hells-half-acre to see and feel out the places, I've talked with the sellers, the tenants, the zoning people... I've bared my %$*# to negotiate something do-able. And then I'll be dealing with the tenants and the hands-on stuff for the next 3-5 years. Soooo, all things considered, it's worth the 50-50 split.

To Bryan: I guess I was just posting this ad here as a general solicitation to see if there were any interested parties. To talk specifics about each deal, we can do that via email. I'm also re-tweaking my website where I'll be posting the different deals that are available as they come up. Thanks.