All Forum Posts by: Collin Bryston Adams

Look for private lenders. From my expeirence it is not the price of that property that scares them it is likely the condition. Get a private lender, fix 'er up, refinance, and pay your lender off. 

Id stay very focused on making sure when it is all said and done you have at least 20% equity, dont lose focus on that. What you might need to do is find a BRRRR and put forced appreciation into it. If you have HELOC or can do a 2nd mortage on your residence (depending on your situation) and use that to fund the rehab. Or if you have a buddy or family member with a little more cash who is willing to loan you with interest. This IMO is a BRRRR lined up for you to do to see the best results.

Just wait! Like Warren Buffet says "wait till the tide rolls back then you will see who has been swimming naked!" 

I’m looking to buy 60-80 acre’s zoned industrial in Dallas-Fort Worth area.

Does any have any good tips for finding such deal while keeping it under 40k an acre??

Does anyone in the Dallas-Fort Worth area have expeirence with auctions at the court house? If so I would love to pick your brain and connect. 

Thanks. 

What kind of property is this? Im guessing multi-family. 

The cap rate is very good (assuming multi-family) I noticed you didn't have rents increasing each year so your annual % is going down. 

I'm not sure details or your goals but if you refinanced a little higher to 70% and keep 30% equity you ideally will see higher COC return but lower cash flow. I assume you thought of that already. I like this deal on paper assuming all numbers are accurate.

Running basics on the calculator assuming you paid full cash of 615k this is a good cash flow deal but low COC return. (my numbers can be way off as I'm assuming a fair amount) Even as I play with the numbers if you refinance It is still a terrible COC. I could be 1000% wrong since I'm assuming some info. But that's your personal decision, if you like the high cashflow with low COC.

I would look at if rents can be increased or how much it would cost to put some vinyl floors, white walls, and black trim or whatever it may need to be more optical to premium rent. As an attractive place in Austin in the right area should be able to bring in more then the 1162.5 average I am seeing here. A nice place should be able to get 1700-2200 depending on various details. Tough to say with info given. 

I would not take much advice from anyone in this unless they are a CPA. Too many variables. 

How much?