All Forum Posts by: Geoffrey Murphy

Here are the numbers

4 family home

purchase price $130k Cash Offer (2bd 1bath 800 per unit) $3200 a month

Taxes: $4638

Insurance: $2460

Water: $1292

Investor wants 6% return per year on his money.

rehab: 40k (5500 per unit)

Purchase + Rehab $170k + Closing cost = 175k

Retail; 230k-250k

Guys, this market is really hot. This deal could go as a flip, or even a hold!

I managed to raise 180k from a local investor that owns a huge portfolio in the area, and also in other states. He's been syndicating for over 20 years!

I did exactly what was taught, I offered a SERVICE. I was willing to help, in return for learning!

We should break ground sometime this week, or next week.

THANKS BP!!

congratulations!

Be ready to be patient. Takes time to find the right deal to meet your numbers, especially when you have a certain threshold that you can't exceed.

It works though!!

Jenkins - thanks a lot. I'm getting the details as we speak. I'll have them uploaded shortly.

I will keep you posted!

Hey Everyone,

First and foremost, I want to say it works! IF you guys are willing to put the time in! The advice/leadership that I have received through the forums, and even on a personal level with someone of you has really made a huge difference!

Here goes!

So the last 4 months have been an absolutely up hill battle! However, we have finally prevailed. I will be closing on another deal this week.The great thing about this deal, was that it is all PRIVATE money.

Long story short, We are going to purchase/Rehab this 4 family home. We will either sell/hold the entity.

I will upload all the specific shortly. (currently at my day job lol)

Fell free to chime in, and critique. It will only make us better!

Stay tuned!

Geoff

Jon Holdman- thanks Jon! wasn't sure if there was a particular company everyone recommended.

I try to get the most recommended companies.

I heard that these items can possibly increase once ownership is taken over?

Hey Team,

I'm ironing out the logistics of a deal that i'm currently working on. Looks great, but want to re-run the numbers again to verify. I'll even post the deal!

Where do i get these quotes from? Tried searching through the forums, but ran into a wall!

Got tied up in other stuff pertaining to R.E. LOL

Any advice?

Geoff

Karin,

Great point. I'm doing this as we speak. Thanks a lot for your advice.

How did I forget!

Gm

Hey BP,

Anyone know of any "Reputable" contractors in the CT area.

The deal is currently located in Manchester CT.

It is a 4plex, and I'm looking for a few estimates.

any suggestions?

@matt. Thanks a lot for the help.

Dan Taylor- thanks a lot Dan. I guess i'm confused because the website continue to promote becoming a certified 203k contractor. They even have a course they require the contractors to take as a prerequisite.