All Forum Posts by: Tommy Vise

4 Bedroom/ One Bath house. 

Tenant has been there for 2 years.  Pays on time.  

I have a contract with the Tenant that is for 12 years, $495/month.

The contract still has 10 years on it.  I'm looking to get out in order to invest my money into another project. 

The financed amount is $41,400.  The assessed value is around $60k.  I'm asking for $26,000.

Doing the math:  120 months x $495 = $59,400

Time is of the essence.  

If interested, Give me a call-  256-856-8728 or email: [email protected]

Thanks, Tom Vise

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Our properties are never above 65% LTV.

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Thanks,

Tom Vise

256-415-7251

I have a 3/2, 1600 sq ft home with a 2 car carport with a fenced yard. Needs a max of $9,000 in roof repairs and a central ac. It's latest appraisal was 60k. I'm getting it for $26,000. I'd like to offer an opportunity to an investor to get a 8% interest loan on 37k (26k + 9K) for a max of 5 years.
The investor gets first position on the deed and I pay them 8 % for a max of 5 yrs.
Very easy, very simple.

Borrow : $37,000
Interest rate: 8% (Interest only)
Payment: $247
Max time period: 60 months

Being a wholesaler in my area, I find deals every month. I wanted to offer the opportunity to a private investor who wants to get 8-10% return on their money. 

Thanks,

Tom Vise

I have a 3/2, 2000 sq ft home with a 2 car carport with a separate garage/workshop. It is on an acre lot on a dead end road. Needs a max of $5,000 in minor cosmetic repairs. It's tax assessment is $75,400. I'm getting it for $32,000. I'd like to offer an opportunity get a 10% interest loan on 37k for a max of 5 years. The investor gets first position on the deed and I pay them 10% for a max of 5 yrs. Very easy, very simple. Borrow : $37,000 Assessed value: $75,400 Interest rate: 10% Payment: $308.33 Max time period: 60 months Being a wholesaler in my city, I find more deals every month. I wanted to offer the opportunity to private investor who wants to get 8-12% return on their money. I find the properties, you have the money that isn't making money. Let's put them together.

Logan--I'm going to private message you my phone number.  Thanks

Michael H. ---The tenant buyers are responsible for all repairs.  They have to keep insurance on the property.  I act as the bank.  

County Assessment  $45700

Great Tenant Buyers --Lease Payement is $495

We have a Lease Purchase Agreement for 12 years that was signed on Oct. 2014

I am willing to sell this property for $26,500.

Thanks,

 Tom Vise --- [email protected]  or call 256-856-8728

Sorry but I'm not holding it.  I have a contract on it right now and am trying to wholesale it.

I have a small Mobile Home Park under contract.

• Property Information

Address:  Florence, Alabama
o Price: $66,000

o Rent Value: $1,250 +/ month ($400, $300, $300, $250)

o Cap Rate: 16   (1,250 x 12 x .70 / 66,000= 16 )

o Initial Repair Estimate:4-6k

      -Paint each MH exterior (if you want to)

      -Paint and refurbish building for storage

o # of lots: 4

o # OF Vacants: 0

o MH tenant responsibilities: Water, Electricity, Gas, Trash---All are individually metered to the resident.

o Cash Flow : $1,250--> This is low rent for this park. It could be raised $50/mobile home and increased to $1450 immmediatly.  This makes the Cap Rate to increase to 19.

****Also, if desired, you can move in newer Mobile Homes and charge $500-$600 per month them.

o Expenses: Insurance $700/year

Yearly Inspection Stickers: 4 x $70 = $280

Taxes/year= $500

Total = $1,480/year

o Taxes: $500

o Basement: No

o Vacant/Occupied: All Occupied

Thanks,

Tommy Vise

256-856-8728

Yes Bill, the MH's are park owned.

Yes, Paul, the 70% was for the main., cap ex., and vacancies.  I do beleive that I can definitley increase the rent on these MH.  

Thanks for the replies.