All Forum Posts by: Francois Frigon

Hi Jim,  These are all monthly figures

Hi Stephanie,  sign a contract with builder SAMA for a new Quad in Selma Texas (phase 2 is in-progress with delivery in 18+ months away).  You will find all the $ figures on LoopNet.com or contact Jimmy Palacio...   Nice problem to have... and good luck!

Kevin, I have two signed contracts with builder SAMA for the quads in Selma TX.  Here are my numbers:

- Current asking price is $539k and I got mine for les than $500k

- Rent projection is $5200/mth (each unit rent ~$1300 through my Zillow assessment)

- Expenses are Tax $990, Ins $210, Maint/CapEx 50$, Vacancy $600, HOA $120

- NOI is $3230

- Commercial Loan $2187 (assuming 25% down, 5.25% interest over 25yr which is what I am currently looking at with SSFCU)

- Gross profit $1043.  On an annual basis, cash-on-cash should be around 10% (not the best, but should cash flow ok)

Great development project.  Phase 1 has been finished a year ago with 50+ quads all rented out.  Phase 2 is just starting (infra done).  First quads delivery should be around 1Q19

Good luck

Francois

Hi David, here's the math on my new Triplex in Converse TX (monthly)

* Rent $3650

* Expenses Tax $550, Insurance $195, Maint/Capex $120, Vacancy $300

* NOI $2485

* Loan $1633

* Monthly cash flow $852

My investment is $80k and I should hit around 12% ROI over a 12 month period. Of course this is all projected, so I'll get actual numbers by next spring

Purchase price no more than $360k (New construction, and you will find many in NB)

12% cash-on-cash return with 20% down and 20yr loan at 5%.  Rent is around $1650 for these class A duplex

Hi Sven

New Braunfels Texas area has a lot of new MFH development in-progress right now.  Location is about half way between San Antonio and Austin.  Very active market in my opinion.  If Amazon chose to build a HQ in Austin, this area will go crazy (my guess)

Good luck

Builder is SAMA Developers, LLC

You will find all the info on the phase two 4-plex development on www.loopnet.com (search for multifamily in Selma TX).

Hi Mila,

I bought a new construction triplex located in Converse TX (1 mile from Randall base).  Price was $320 a year ago (when I bought) and I know some new duplex $299k are for sell in that same are (7314 Colina Way, Converse 78109).  Rent average $1225 in that area.

I'm also investing on a 4-plex in the Selma TX area (near I-35 north and 1604).  They go for $540k with good cash flow.

Keep looking in the area of Kirby, Converse, Universal City and Live Oak - all good in my opinion

Francois

New construction projects (master dev initiative)

Vistancia at Judson Eights (5 prop all triplex or quads)

JAP in New Braunflea (23 duplex)

And another quad dev in Selma (phase 2 in prog with 50 planned quad)

Marty, AWESOME for your loan.  I am having a hard time to find a commercial loan for my duplex (bank don't want to go commercial on anything less than 5 doors)

Hi Marty.  Looks like you are on to a good start.

My wife and I are doing about the same in San Antonio Texas. We have a triplex & duplex currently in-construction through our LLC.

One question, which bank did you go through to finance your Duplex? (and I'm assuming here the asset is under your LLC)

Dominic, can you expand on your statement "we bill them direct"?

Have fun!