All Forum Posts by: Connor Williams

A have a 2 acre parcel that is zoned MSF, wanting to re zone it commercial, mixed use or industrial. I have a phone call in with a land attorney. AnyOne have any experience with this? Thanks!

@Geordy Rostad

Oh nice! This is off market. I was originally going to list the property, instead decided that after talking with the seller that I will purchase it. 

The question will be to either flip and cash out roughly 100,000$ or hold and get a renter in. I like cashing in flips when they are that much profit, but for tax purposes will probably keep it or do a 1031 

@Geordy Rostad thank you for the reply. I am not really worried about the numbers, more the process of the transactions. The numbers are there, a few thousand will not hurt the deal or kill it in any way (those are built into the rehab too) 

I am working a deal that would allow me to purchase owner financed. I will give him 10% down with monthly payments and a 5 year balloon. 

My goal is to rehab the property and then refinance to keep as a rental.

Here are the numbers 

Purchase price- 225,000

Down payment- 25,000

Rehab- 50,000

ARV- 400,000

After the rehab can I refinance for 300,000 and pay myself back the downpayment and rehab costs? And payoff the original seller at the same time through escrow

Request accepted! Let’s chat! Definitely would prefer multi family over single family in the area I am looking 

thank you Dale and Darius, yes I couldn’t agree more about having big ticket items in 9 houses. The deal seems very thin to me with the chance of disaster with each one. For the price, an apt complex would be a better investment I am thinking. 

thank you Barry, yes I do have a built in cost CAP x each month.

9 single family properties

Total price for all 247,000 

I want to offer 80% since it’s a package deal=  200k

Monthly amounts-

Gross rents equal $5125

Costs= 2350

Net=2775

I would have 20% down and pay myself back in 15 months the money I initially put into the deal. 

Is this a good deal, I have never bought a package deal like this that is turn key. 

Thank you!

Anyone in south Puget Sound (Puyallup-Buckley area) wanting to play a round of golf and chat about current/future deals?

new to wholesaling a contract, any tips on how to do so? I can get a property under contract, then should I find the investor and add my terms (as far as a stake in equity, or cash for finding the deal)?