All Forum Posts by: Brian Lauchner

Click the link that says "CLICK HERE for RENT ROLL/breakout", everything is in that spreadsheet

PRICE: $190,000

Repairs: $0!!!

GROSS RENT: $3,760/mo ($45,120/year)
GROSS ROI: 23.7%

NOI Financials: 

ABOUT THIS PROPERTY:

What an opportunity! 7 condos, 5 of them are currently rented as cash flow properties. The other 2 are rent ready and the seller has applications from tenants that are interested. He has had many long term tenants and never had an issue renting there. Not much else to say when its this good of a DEAL!

• 423-662 Square Feet
• 1 bed/1bath
• SELLER PAYING TITLE
• Closing July 29th, 2016 at Benchmark Title in Dallas
• CLICK HERE for RENT ROLL/breakout

CONTACT ME FOR INFORMATION

Cash or hard money only (please specify which you will be using)
$5,000 non-refundable deposit
Properties to be sold as-is
First come first serve.
Please contact me for ACCESS.
Please Do Your Own Due Diligence Before Signing Contract

Brian Lauchner
[email protected]
972-742-7594www.Seven24Properties.com

104 Jean Ln Euless, TX 76040

NUMBERS:

PRICE: $99,000

Estimated Rental ARV: $160,000 ($95/sqft-many houses in area selling for well over $100/sqft)

[Flip ARV is somewhere between $160k-$170k…no rehabbed comps in last year…many new construction across the street…the "updated" comps are still destressed or rent ready at best]

Estimated Market Rents: $1400/mo (basic rent ready all the way up to fully rehabbed will rent for $1400-$1500)
Estimated Rent Repairs: $15,000-$26,000 (depending on type of landlord)

Property is currently vacant, please contact me directly to set up a showing. 

ABOUT THIS PROPERTY:Great location! Large Lot! This property is the ideal rental- 4 bedroom, 3 full bath home (majority of comps are 3 beds). The house is steps away from S. Euless Elementary and neighborhood pool and rec area. Across from the house builders have come in and new construction is going up…some already on sale for $330k+. Estate sale is happening soon and family is clearing out personal belongings…so the house will have less inside by closing. HVAC is 2010 and in good shape, don’t know age of roof but it may only be about 5-7 years old.

• 1700 Square Feet (tax role shows 1375 sqft but in the 80’s the owner added on a 300+ sqft second story master loft with full bath and walk in closet)
• Built 1961
• 4 bed (not 3)
• 3 FULL baths (not 2)
• 2 Car Garage
• Brick and Slab

Rental REHAB:
Ceiling and Drywall repairs (includes new ceiling in garage)- $2300

Light fixtures/Electrical- $500

Int. Paint- $3,000

Flooring- $2,500 (leave the tile)

Kitchen- $2,500

Appliances- $1,000

Exterior siding/trim work- $1,000

Landscaping- $1,500 (if you want to cut down the large tree in the back)

Dumpster/Clean out- $2,000 (this should be more than enough)

Plumbing/toilet/fixtures- $550

3 Bathrooms- $7,500 (some people will choose to spend a third of this on baths)

MISC. and cleaning- $2,000

Pictures available - https://onedrive.live.com/redir?resid=2B0998229823E6DC!5843&authkey=!AD8cETvHiczz29s&ithint=folder%2cjpg

COMPS available, contact me.

Cash or hard money only
$2,000 non-refundable deposit
Property to be sold as-is, buyer to pay closing costs. First come first serve.
Please Do Your Own Due Diligence Before Signing Contract

Brian Lauchner

972-742-7594

[email protected]

SEVEN:24 Properties

~Matthew 7:24~

So are you saying that you take an additional 40% off the top?

Those numbers also only apply when you need to hire a property manager, when you need to account for a capital expenditure, when your tenant isn't on a long term lease...i'll give you maintenance because sure something is bound to break even though its new. 

What cap ex do you need to account for when the house is fully remodeled? What vacancy is there going to be if the lease is locked in? 

I'm just curious if you always run your numbers like that? Don't get me wrong, I would love to have properties with an additional 40% margin in them- the cap rates would be 50% probably. 

8016 Bangor Dr. Benbrook, TX 76116

NUMBERS:
Currently Rented for $1,750/month
Estimated Rent Repairs: $0
PRICE: $175,000
***20% down on a 30 year note at 5%= PITI payment of $1143/mo
Leaving you with $607/mo cash flow!!!***

ABOUT THIS PROPERTY: Freshly rehabbed ready turnkey rental! We just finished rehab and got a family tenant in with a 1 year lease. Great 5 bedroom, 2.5 bath home. Floor plan is perfect for entertaining! Spacious Home completely remodeled top to bottom! New paint, kitchen, bathrooms, appliances, carpet and flooring, fixtures, new landscaping and sod, new water heater….new everything! Pictures available online or contact me.

• 2,914 Square Feet
• Built 1967
• 5 bed
• 2.5 bath
• 2 Car Garage
• 2 Large living spaces
• Brick, Slab

Pictures available

Please reach out to me with questions

Brian Lauchner

972-742-7594
www.Seven24Properties.com

I am buying a rental out in west texas in Abilene near the university...can anyone recommend a contractor, roofer, or a home inspector out there?

Thanks, Brian

You ROCK Loren! Thanks!

Hey BP'ers, 

I have an out of state rental that was bought in my IRA and I have been researching absentee property management in hopes that I can kick the property managers out... I have to call the PM each month to make sure the the tenant pays because they don't post the payments until the following month and if the tenant didn't pay then 40 days later I find out, so frustrating.

Anyways, I wanted to know if any one self manages their rentals that are owned by their self directed IRA or a trust? Can I self manage a property bought in my IRA? I know there are lots of rules regarding what I can do myself but I am assuming that if I have the tenants pay the trust directly that maybe it will be fine? Or will I just need to find another property management company?

Thanks, 

Brian Lauchner

HAHA thanks Barb! I wasn't even thinking about that...I was trying to figure out some real estate term... hahaha