All Forum Posts by: Paul Timmins

Nick Sidoti said his greatest real estate mistake was selling a property. Nick does special needs populations gets 2-3 x returns.

An associate picked up a duplex in Detroit was mortgaged 80K he got it for 6K. Its full and cashflowing 1K a month. Whats going on in Detroit is happening in other areas PA, OH

Two partners wholesaled a multi every week for a year, 60K every month. They did 3 gut rehabs cleared 100K on each.

Buddy closed and sold 3 SFR in 1 month-total profit 130K, he carries a 2 yr note on the props

In short every technique can produce huge returns. Find something you are comfortable with and max the results.

Quick Rule of thumb

Less than 50 Units 35%
over 50 Units 45-60% depending on how they handle utilities.
If owner pays then charges back on the right side greater expense, on the left side when charging back will be utility reimb. or other income.

Try zillow.com look for multi's filter low to high price Ones that are corporately owned, bank owned or vacant are REO's
Check and see which brokers are listing the REO's frequently. Connect with those brokers, banks use the same brokers over and over.
When speaking with the broker ask them What do you need to close on in the next 30 days...?

Go to http://www.irem.org/ Search for ARM designated.

Dan

Consider getting a commercial loan on your existing-any equity pull?

SEC very specific language.
Are they suitable for the investment
Do you have a Substantive, Pre-Existing Relationship?
What constitutes an Offer, General Solicitation, Advertising.
Do you use a Pre-Qualification Letter and an Accredited Investor form?
You must have a team member on your side to help you.
Visit a SEC attorney website for info such as [REMOVED]

Good Luck
Paul

Joe
Based on expenses 35% of gross
I come out with (757 cashflow/yr, .97 dcr and -.96 c/c
Maybe a special population per bed might get better returns
Paul

Greg
Check your local affordable housing office they will have local info on it and other programs as well
Paul