All Forum Posts by: Dennis Pressey Jr

129 N 30th St Belleville IL 62226 (Illinois)

2 bed |1 bath | 760 Sq Ft

ASKING: $53,000
ARV: $109,000

FMR: $980 per month
TAXES: $1,600 per year

This single family house is a perfect rental unit. There is some profit in a quick renovation too. This property is for serious buyers ready to pull the trigger and get it closed.

TEXT 855-626-9349 FOR ACCESS

Lets connect. We do nationwide but that is my hometown. I have a single family off-market in Fishtown that is a fair deal, and others coming to agreement.

Talk soon.

Single Family Fixer Upper in Helendale CA

1xxx9 National Trails Hwy Helendale CA
3 Bed | 2 Bath | 1750 Sq Ft

ASKING: $163,000

ARV: $239,000 - $279,000

EST. REPAIRS: $50,000

Description:

This property needs your standard renovation. The property has on-site water well. Heating system is electric. Cooking fuel is propane.

The exterior needs an aesthetic update. Interior needs updating of kitchen, floors and baths in order to see maximum ARV. Property is on a nice sizeable piece of land about 15 minutes from population centers.

Known Issues:

Flat roof, leaking primarily in kitchen.
Drywall from leak/damaged area
Kitchen updating including cabinets and countertops
Bathroom updates - full
Exterior aesthetics

Unique Factors:

New development and vacant land sales are skyrocketing with over a dozen sales within the last 6 months
Located between population centers (10-15 minutes either direction)

@Enante Exyt

Welcome. So you have a seller financed deal and you need a cash partner for the down payment?

I’ll assume that’s the case, if I am wrong please correct me.

You can structure it various ways:

1. Personal or Business Loan with no connection to any property

2. Loan down payment with repayment terms and a lien position against the property (secondary)

3. Partner directly by giving equity in the property to investor

@Lena Hanson

Additionally, there is typically standard extensions and grace periods for deadlines. Something like: ‘title commitment due on or before Apr 19th. Buyer shall have 5 days to cure’ etc etc

@Lena Hanson

Simple. Say ‘no’. End communication, close the deal before the expiration of the contract. Tell your lender it is TIME TO PERFORM.

@Niraj Maniar

Welcome! Reach out if you need anything: licensed realtor, wholesaler and rehabbed, syndicator.

@Gervon Thompson

Either way, your loan is 3.55% which is lower than any rate you’ll be getting for a line of credit or investment loan.

Especially if it is private debt, not showing on your report - leverage your current cash rather than empty the bank to go get another loan at higher percentages.

@Gervon Thompson

Forget that loan, they’ll be forgiving it anyway in this silly time we live.

Invest, is my opinion.

I also disagree with anybody saying ‘wait’ for the market to cool down. There are deals available and I hope everybody else ‘waits’.

When they contract, we expand!

@Jared Rine

Thanks Jared. I am still working and finalizing a lender, so no.

Looking to find a transactional wholesale 100% 1.5-2% (same day closing)