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All Forum Posts by: Harinder Singh

Harinder Singh has started 2 posts and replied 14 times.

Post: Hammond, IN First investment?

Harinder SinghPosted
  • Real Estate Agent
  • New York
  • Posts 14
  • Votes 3

Hello everyone,

I am looking to invest but not sure exactly where to do so because my market is very expensive. I found someone offering a turnkey in Hammond, IN with 12% coc. I just wanted to ask fellow investors their opinion on the area. I see that Hammon is developing neighborhood and has potential. But is it good for first-time investment? Can it be risky?

Thanks,

Harinder Singh

Post: [Calc Review] Help me analyze this deal

Harinder SinghPosted
  • Real Estate Agent
  • New York
  • Posts 14
  • Votes 3

@David McMaster

No problem, good luck with the deal

Harinder Singh

Post: [Calc Review] Help me analyze this deal

Harinder SinghPosted
  • Real Estate Agent
  • New York
  • Posts 14
  • Votes 3

@David McMaster

Hi David,


I am new to investing as well, everything seems fine but the refinance does not add up. Usually, banks wouldn't give full LTV.

Good Luck!

Harinder Singh

Post: [Calc Review] Help me analyze this deal! (wholesale)

Harinder SinghPosted
  • Real Estate Agent
  • New York
  • Posts 14
  • Votes 3

@Daniel Carter 

Hi Daniel,

I am no expert at this, but from what I have seen, I believe there are many costs for the flipper that is not included with this. For example, there is usually a 6% realtor fee ($15,000 if the sale price is $250,000). Plus the cost of financing the deal or if the true cost is actually $30,000 for repairs. Also, the holding costs probably should be higher if it is a big rehab since it may take longer than 3 months or if the seasoning time is 6 months at a minimum. 

Let's say ARV is $250,000, 70% of that would be $175,000 - expenses (6% realtor fees ($15,000) + holding costs( $2,400(6 months)) + $30,000 (rehab) = $127,600.

Therefore, you may be left with $10,000 - $15,000 for wholesaling fee.