All Forum Posts by: Dori Arazi

understood. Thanks guys. This is not 100% of my hard cash but a good 70%. I’ll have to think this one through. 

@Account Closed, the 50K is not for a tear down. Its for a renovating the property as it stands. My apologies if I wasn't clear.  

@Derrick E., I've heard about HELOC but I don't fully understand how it functions. Pardon the poor analogy, but is it like using the property's equity like a credit card? How can I fond out more about terms and fees?

Cheers, 

-Dori

This would be my first time trying to do an all cash rehab refi and hold. So needless to say I'm pretty nervous. 

This property in Nashville, zip 37216.

Original property was a 2 br 1 bath duplex and an additional expansion of 1br 1 bath was added. 

They are presenting it as a "tear down" or "as is" deal. The property is extremely distressed. Full on, war-zone meets hoarders, but in a rather desirable neighborhood. 

They are asking $314,000. Land value of that lot is $170-220. I am offering 200k, hoping to get it between that and 215k. 

They are asking to negotiate an offer before even seeing it. Just base don pictures alone, I am estimating around $50K in rehab. 

Assessed value of a triplex in that area is around $320-340 (no triplexs actually exist in that neighborhood, these are averaged comps). 

Rents for a full reno in that neighborhood are:

- 2br : $1350-$1500

- 1br: $850-$1070

I figure if I get it for $210k + $50k reno = $260 all in. Hope to assess at $330k. Can pull a 75% loan against equity at $247.5.

So if all goes well I'm in this deal with a $247K mortgage plus ~$15K cash. 

Grossing an average of : $3700 mo

Anything I can/should be doing do additionally vet this deal?

Thanks!

I’m analyzing a potentially good deal with a full rehab triplex in a nice neoigboirhood. Even if I manage to get it at the price I want, after rehab it will tie up most of my hard cash. 

What’s the best way to leverage the equity after rehab towards additional deals without getting income tax or capital gains hits? 

And does this limit what I can apply these funds towards in the future? 

Pretty nervous about this side of things. I feel a little blind sided without a clear plan. 

Any input would be much appreciated. 

Thanks! 

Thanks for the advice! 

Gotcha. I’m more referring to “how to close the deal” documentation and all. Just go through the title company? 

As for the offer, how do you give an offer to a property represented by an agent? What type of documents are needed? 

Can anyone help me understand the process breakdown of:

- Putting down an offer without an agent

- A direct purchase form seller without an agent

I'm having a hard time wrapping my brain around this, though it seems like it can really help with moving fast on deals (no offence to you agents out there, you guys are life savers!!!).

Thanks!

I'm an investor from California looking for an Agent/Investor in Tulsa to help with hunting and executing. 

Anyone out there? 

Thanks!

@Dave Foster, again, thank you.