All Forum Posts by: Delmas Edwards

I have a lender for the purchase price but I looking for a lender for the down payment as well.  Are there and lenders that assist with funding the down payment?

Is this a good deal???? Seller is offering seller's financing but haven't reached the seller yet.

 Apartment Complex in Oak Park, MI 48237

Price: $2,550,000

No. Units:44

Cap Rate:9.09%

Building Size: 37,020 SF

No. Stories:2

Price/Unit:$57,954.55

Year Built:1965

Net Operating Income$231,700

2,550,000- Price

637,500     Down Payment 25%

1,912,500

231,700 (NOI)

-178,500    - (7) Rate Factor

53,200 $53K A Year= $5K A Month 44units= 1200 per unit

Whats a ideal dollar purchase to pay for an investment property to rehab and rent out? Whats the Min-High?

I have a property that $60K that's privately owned. 3 bdrms 2 bath almost 1300 sqft in a (B) grade area. The Seller is willing to negotiate a land contract. So my question is I want to do creative financing and I don't know where to start. I wanted to do a sub lease and rent it out but don't know the raw cut ways of going about completing this deal. Can anyone advise me with this?

Can anyone recommend sites/ information that teaches the raw cut of how to use hard money without getting screwed. Im a new investor with no skin in the game. I work a 9-5 that I dislike very much.

@Edwards Briley the company that issued the credit card to you, you could of request balance transfer checks. The easiest way to turn a balance transfer into cash is to use the special checks that credit card companies usually send with offers or with the monthly statement. These checks can simply be deposited into your checking or savings accounts. So basically if you have a card that 10K you can write it for that whole 10k or 30% of that if its on your personal credit and you could write it for the whole 10K if its a business credit card. Take a look at Juan Pablo's Videos 

https://youtu.be/UaAjLjFD7zE?list=PLQPp47PDF3f6-pn...

@Curt Davis Yes the price of the home already include repairs. Im factoring vacancy, down the road repairs, and management I have Castle Management in mind https://entercastle.com/property-management. 

 Their Fee is $79/unit                                                                                                                 Tenant Placement Fee: None                                                                                                    Setup Fee:None                                                                                                                      Lease Renewal Fee: None                                                                                                        Maintenance Fee: None

I just need a steady good cash flow 

Thanks Curt Davis ! I need to ask you like how do you know you have a great deal when the number can be off sometimes? I mean it's boils down to estimates of how much renovation, management and etc cost right?

Oakwood Ave, Eastpointe, MI

Price: 79K

Rent: Listed at 900-950

20% DW: 15,800

Now Im trying to figure the out of pocket cost, conventional financing numbers, and the annual return on investment. Can someone please help me understand how to come up with the right number?

To have a 1500 sqft house build on 10,454 sqft in Eastpointe MI how much would new construction built from the ground up cost?