All Forum Posts by: Charles Kappe

I am looking for a private money lender for a buy and hold project for a sober living home that I am considering a deal on. Details below:

Purchase Price: $149,900 motivated seller willing to negotiate

Closing Costs: $5,301

Rehab Cost: Not Needed  (move in ready)

Expenses: $15,000 for initial operating costs ( I will give a full breakdown if needed )

Total Investment: $170,201

Neg. Terms: 10% ROI at interest only for 24 months. Will Cash out refinance within the 18 months of the term.

Monthly Payment: $1,418.34 for 24 months

Total ROI: $204,241.16

If you need any other information and are seriously considering, let me know.

Thank you,

Charles

I am looking to get a contract on a property. I am looking for private money lenders in the Philadelphia area to help fund the buy and hold properties. Let me know if interested and I will send over all the numbers needed.

Thanks! 

Hello,

I am looking to close a deal on a property in Norristown, PA for a buy and hold - sober living home. Looking for a passive partner on the deal for purchase, rehab and operating expenses and open to different structures of loans. This deal is a week away from contract.  

Purchase Price: $149,900 neg. with cash purchase

Rehab Costs: $15,000

ARV: $200,000

Closing Costs: $5,301

Start-up expenses: $15,000-$18,000 (furniture and expenses for a sober living home)

Monthly Income: $7,920 +/-

Monthly Expenses: $3,572.14

Monthly Cash Flow: $4,347.86

Pro Forma Cap: 38.64%

Cash Needed: $188,201

If you need any other information, feel free to ask.

Thank you!

Charles Kappe

Founder at Connect The Dots Recovery, LLC

[email protected]

www.connectthedotsrecovery.com

Hello,

I am looking to purchase my first property owner occupied and cash out after 6 months to turn into a rental. I received a pre-approval for $198,500 at 3.250% for an FHA loan. I will need to bring to the table $12,725.56 for the 3.5% down payment and all closing costs. I am looking to finalize the contract to purchase the home.

What are my options to come up with the $12,725.56 for the out of pocket costs with an FHA loan?

Thank you for your help in advance! 

Hello,

I am looking to purchase my first property owner occupied and cash out after 6 months to turn into a rental. I received a pre-approval for $198,500 at 3.250% for an FHA loan. I will need to bring to the table $12,725.56 for the 3.5% down payment and all closing costs. I am looking to finalize the contract to purchase the home.

What are my options to come up with the $12,725.56 for the out of pocket costs with an FHA loan?

Thank you for your help in advance! 

 This is a 4bed 2 bath single family home. Due to the style of sober living house the compliance allows 12 residents.

Hey,

I have a few questions. regarding

Can you buy a property through an llc with a line of credit private money loan

Can you refinance the investment property to a conventional/long term loan that was bought in cash to cash out and pay off a private money loan

If yes then how long will it have to season the property and show income.

The scenario:

I have a new LLC for Sober living houses. I am going to be having a private money line of credit structured loan. I will buy a house for my type of business at or below the 200k range below market value. For the style of business the start up expense per house is about 18-20k. The recurring expenses monthly are about 3k. The income per month is about 6-11k. The profit after all monthly expenses 1,500-$5,800

Example:

250k line of credit at 10.5% intrest only loan for a 12-18month term.

Total due at terms: $276,250

Total monthly (intrest only): $1,459- $2,188

Purchase price: $200,000

Start up expenses: $18,000-$20,000

Recurring expenses: $3,000

Total monthly income: $6,000-$11,000

Total monthly profit after monthly expenses: $1,513-$5,812

If there's any other information needed to answer the questions please let me know.

Thank you!!

Charles Kappe

Hey,

I have a few questions. regarding

Can you buy a property through an llc with a line of credit private money loan

Can you refinance the investment property to a conventional/long term loan that was bought in cash to cash out and pay off a private money loan

If yes then how long will it have to season the property and show income.

The scenario:

I have a new LLC for Sober living houses. I am going to be having a private money line of credit structured loan. I will buy a house for my type of business at or below the 200k range below market value. For the style of business the start up expense per house is about 18-20k. The recurring expenses monthly are about 3k. The income per month is about 6-11k. The profit after all monthly expenses

Example:

250k line of credit at 10.5% intrest only loan for a 12-18month term.

Total due at terms: $276,250

Total monthly (intrest only): $1,459- $2,188

Purchase price: $200,000

Start up expenses: $18,000-$20,000

Recurring expenses: $3,000

Total monthly income: $6,000-$11,000

Total monthly profit after monthly expenses: $1,513-$5,812

If there's any other information needed to answer the questions please let me know.

Thank you!!

Charles Kappe

I am having some issues with the township and some surrounding neighbors and wanted to see if someone could help. I own a recovery/sober living house. 10 members live in the 5 bedroom home unrelated. The township is giving us some issues due to the borough doesn't allow no more than 3 unrelated tenants in a property. No one is on a lease it is a self run sober living home for people recovering from drug and alcohol addiction. Is anyone familiar with the ADA or fair housing act and it would allow us to be covered to allow this house to have all 10 members in the home without an issue. It's just a normal house everyone cooks, cleans, works and participates in the community as a family but no one is related. They are making it very hard for us to live here. Can anyone help???

Thank you,

Charles Kappe

I am having some issues with the township and some surrounding neighbors and wanted to see if someone could help. I own a recovery/sober living house. 10 members live in the 5 bedroom home unrelated. The township is giving us some issues due to the borough doesn't allow no more than 3 unrelated tenants in a property. No one is on a lease it is a self run sober living home for people recovering from drug and alcohol addiction. Is anyone familiar with the ADA or fair housing act and it would allow us to be covered to allow this house to have all 10 members in the home without an issue. It's just a normal house everyone cooks, cleans, works and participates in the community as a family but no one is related. They are making it very hard for us to live here. Can anyone help???

Thank you,

Charles Kappe 

[email protected]