All Forum Posts by: Drew Dallas

All properties are on the NE side of Indianapolis towards the Lawrence area. All homes are in safe areas and have been producing great income for the owner. These need to be sold quickly as they are looking to purchase more units in 2014 but have to sell these first. Do not be shy about offers. Does not have to be cash, but must be able to close by Dec. 25 at the latest.

Owner is crediting a year of free management to the buyer. We have been professionally managing these units and can do so for all of 2015 for free for the buyer. Do not hesitate to contact with any questions about the management company, contracts, etc.

1.Rented @ $750/mo. - 3br/2ba - Month 2 of 24 - Unit was just turned with over $3k invested (New paint, water heater, toilets, etc.)

Asking : $50,000

2.Rented @ $850/mo. - 4br/2ba - Month 2 of 12 - Unit was just turned with over $5k invested (new carpet, paint, fans, toilet, etc.) Just replacing from wear and tear, not tenant damage.

Asking : $55,000

3.Rented @ $700/mo. - 3br/1ba - Been in home for over 3 years. Month 10 of 12 and will continue to rent unit.

Asking : $45,000

Can provide history, scope of works, pictures, and answer any questions.

Again, they have to sell these to purchase more by the end of 2014. Let's get something done on all 3 or just 1. If you package all 3 we will do what we can to get you the absolute best deal we can.

All properties are on the NE side of Indianapolis towards the Lawrence area. All homes are in safe areas and have been producing great income for the owner. These need to be sold quickly as they are looking to purchase more units in 2014 but have to sell these first. Do not be shy about offers. Does not have to be cash, but must be able to close by Dec. 15 at the latest. 

Owner is crediting a year of free management to the buyer. We have been professionally managing these units and can do so for all of 2015 for free for the buyer. Do not hesitate to contact with any questions about the management company, contracts, etc.

Property 1 

Rented @ $750/mo. - 3br/2ba - Month 2 of 24 - Unit was just turned with over $3k invested (New paint, water heater, toilets, etc.)

Asking : $50,000

Property 2

Rented @ $850/mo. - 4br/2ba - Month 2 of 12 - Unit was just turned with over $5k invested (new carpet, paint, fans, toilet, etc.) Just replacing from wear and tear, not tenant damage. 

Asking : $55,000

Property 3 

Rented @ $700/mo. - 3br/1ba - Been in home for over 3 years. Month 10 of 12 and will continue to rent unit.

Asking : $45,000

Can provide history, scope of works, pictures, and answer any questions. 

Again, they have to sell these to purchase more by the end of 2014. Let's get something done on all 3 or just 1. If you package all 3 we will do what we can to get you the absolute best deal we can.

We manage a small portfolio for a SFH investor.

They need to sell their remaining two SFH's before 2015 and purchase another investment this year for tax reasons.

I will send more detailed info to those who would like, but here are the important details. Don't be scared to shoot an offer over, remember, they have to sell these.

2 Single Family homes :

1. 40th St - Unit was just turned for a new tenant. We just placed a great tenant on a two year lease @ $750/month.

2. Hawthorne - Unit has been rented by same tenant for 3 years. Tenants have no intention of moving for the foreseeable future. Rent has not been paid late in 3 years. They are on a year to year lease at @ $699/month.

As a bonus, the seller is offering a year of free management through our company. They will credit the buyer at closing. That will save you about $1,740 in expenses your first year.

Outside of maintenance, and assuming the new owner takes care of their taxes and insurance (we can take care of if needed), your net every month for the first year would be $1,449, the maintenance should be minimal based on history, the 40th St unit was just turned last month, and the Hawthorne unit has only had apx. $1,000 in maintenance over 3 years.Tenant takes care of everything else and all utilities.

Asking Price : $99,000 for whole package. Negotiable. Remember, we have to sell these quick, shoot me an offer or any questions, I would be more than happy to help.

Drew

[email protected]

317-679-0303

Completely rehabbed 4 unit building with 3 car detached garage.

Scope of work and additional pictures available upon request. Not a patch job, this was a top down renovation, new electrical, plumbing, flooring, drywall, doors, windows, paint, and much more. All appliances will be included, tenants being screened for move in this week.

Price : $184,900 - negotiable

Gross Yearly rent : $31,200 ***this does not include income from garage. Rent the garage spots to tenants for another income source!

NOI : $19,771 (without garage income)

Property Tax : $1,556

Management : 10%

Any questions or need more info?I'd be happy to help, just send me an e-mail:

[email protected]

SOLD. Thanks to all! We have more available currently, will be up today.

@Luke M. I will send you a PM with our other available properties.

I'd be interested as well, I've always been under the impression that it about $10k to buy a membership but if you rehab/always renovating, then it can be worth it, if you are only doing 1-2 properties, I doubt it'd be worth it.

Completely rehabbed Duplex in Indy

Each Side is rented at $600/month = $1,200 a month gross rent

$77,425

We have two of these available, completely identical, can put together a good deal for both.

Let me know if you would like any additional information or pro forma upon request.

Drew - [email protected]

Can you send me some more info? [email protected]

Thanks,

Drew

Builder profit is typically going to be 8% - 10% for a smaller custom builder, for a larger production builder, it may be 10%+.