All Forum Posts by: Chris D.

Chris, what exactly do you do for a person?  Do you locate? or just educate what to do before , after then during ownership?

You will not need more than 2 washer and 2 dryers. I have a eight unit and there is absolutely no issues or wait times with 2 of each.

Raise the rents, whats the difference in someone paying $700 including no bills and say you include all the utilities for $850 a month.  Assuming gas is $100 and electric is $50 a month.

I feel your laundry projections are very high.  I own a bunch of 4 units and im lucky to get $150 a month at $1.50 a wash and $1.50 a dry.  

So what your saying is your goal is to get this under contract with no financing in place, then run around like a chicken with your head cut off trying to find the money or financing, then when it does not work out you have to back out, then screwing the seller and wasting his time.  Sounds like a great plan to me.

150k

699k at 4.5% for 25 years is $3885 a month, $46,620 a year, minus $75,320 leaves you with $28,700 a year profit with no money down.  You will be a fool not to take this deal, if you do not take it ill take it right now.  Please, give me these deals everyday!  Let me change that, you would be a idiot not to take it.

Almost a 11% cap rate, if its a nice building, able to raise rents, add value, its a steal. 25% down you will be making money day one.

No problem @DavidStone I wish you much success!

Unfortunately i cannot share my guy with anyone else, as he only lends to people he knows personally.  To answer your other question is I Write it as Cash.  Yes, i know you said it cant be done, but maybe that is why i am getting the deals and you are not.  If you want to team up ill be more than happy to write cash on the contract :)