All Forum Posts by: Brittany Ursini

Hi everyone,

We received a response from one of our direct mailers for a SFH in New Canaan, CT. It's at a price point where cash and hard money lending don't really make sense for us, so we are considering wholesaling. This is the first time we've done this, so we wanted to reach out for any specific advice on how to structure the deal. Pros and cons of double closing v. assignment? Any specific clauses that should be added to the contract?

If anyone has any specific information on wholesaling in Connecticut or Fairfield County, that would be appreciated as well!

$18,000 is just my 25% of the closing costs plus down payment. Seller is offering us some credits for the closing costs, so total will run about $74,000. 

I am currently analyzing the purchase of a duplex for a buy and hold. It was listed at 289,000 and they accepted our offer at 281,000. There are two long term tenants in place (for the past 25 years). Current rent is $2500 per month total. The tenants pay all utilities, except for lawn care for only one side. 

We are investing with 2 other people, and we would have a 25% share. For a traditional loan with 25% down, our total cash investment would be over $18,0000. We've been analyzing using the buy and hold calculator, and have used pretty conservative numbers for maintenance, cap ex and repair costs. We are getting a cash on cash ROI of 10.19% and a gross rental multiplier of 9.37.

My concern is that I am tying up $18,000 for a profit of only $158 per month/$1896 per year. I want to be able to buy additional properties (including my own home) within the next few years. 

Can anyone provide anything thoughts or advice on this? Thanks in advance!