All Forum Posts by: Jack Gibson

Turnkey Cash flow property with a 2 year rent guarantee!!! We have 10 exactly like this one (same neighborhood, very low taxes, similar price, same floor plan, same deal). Built in 1998, this home has all new mechanicals and will be bulletproof for several years. Comes with a 1 year home warranty on all major items (electrical, furnace, roof, water heater) and just a few months into a 2 year lease. You will need to act fast as these are about to all be purchased by a large investor. Call/text Jack - 269-369-9654

Rents vary from $725-$800/month on other 10.  

Comes with Property Management already in place. PM has been in business for 21 years and has 355 properties actively managed with 6% vacancy rate.

This property will have very little tenant turnover and if current tenant does leave it will be filled in a week - 3 bed with 2 full bath is rare for rentals so very high demand.

Purchase Price: $50,000

Monthly rent: $911 Yr: $10,932 (Section 8 renter so they will be there long term)

PM (10%): $1093

Taxes: $471 (yes, that is correct, and will stay that way for a while unless they do new assessment which is unlikely in this area)

Insurance: $400

Repairs: $0 (Comes with 1 year Home warranty and has all new mechanicals)

Net income: $8,968

Cash on cash: 18.0% NET

Check out property pics:  https://www.dropbox.com/sh/g5sgmftjzdvrq4n/AABLCbfLh33VPp0HN2cmHkyoa?dl=0

Here are the complete pics of the property: 

 https://www.dropbox.com/sh/g5sgmftjzdvrq4n/AABLCbf...

Turnkey Cash flow property with a 2 year rent guarantee!!!  We have 10 exactly like this one (same neighborhood, very low taxes, same price, same floor plan, same deal).   Built in 1998, this home has all new mechanicals and will be bulletproof for several years.  Comes with a 1 year home warranty on all major items (electrical, furnace, roof, water heater) and just a few months into a 2 year lease.  You will need to act fast as these are about to all be purchased by a large investor.  Call/text Jack - 269-369-9654

Rents vary from $725-$800/month.  

Comes with Property Management already in place. PM has been in business for 21 years and has 355 properties actively managed with 6% vacancy rate.  

This property will have very little tenant turnover and if current tenant does leave it will be filled in a week - 3 bed with 2 full bath is rare for rentals so very high demand.  

Purchase Price:  $48,000

Monthly rent:  $725  Yr:  $8,700

PM (10%):  $870

Taxes:  $181 (yes, that is correct, and will stay that way for a while unless they do new assessment which is unlikely in this area)

Insurance:  $400

Repairs:  $0

Net income:  $7249

Cash on cash:  15% NET

Check out property pics:  

https://www.dropbox.com/s/6i6vyum78if8k9u/2809%20O...

1 Year Leases at $625 started in March 2016.  Fully Rehabbed, all construction pics in dropbox link.

Purchase Price:  $60,000

Rental Income:    $15,000

PM (10%):          $1500 (Management is in place and has 6% vacancy rate across 350 properties)

Taxes:                $0 (1st year already paid, 2nd year $400

Insurance:          $600

Maintenance:     $500  (may not be this high as just rehabbed but just in case)

Total Net:  $12,000 (factoring 2nd year taxes)

Cash on Cash Return:  20%

My contact info:  Cell:  269-369-9654, Email: [email protected]

Rehab Construction pics:   https://www.dropbox.com/sh/2ypstoeuhet2wjr/AAA8Mad...

Annual rent:  $9,000

Management: $900

Taxes:  $561

Insurance:  $600

Net income: $6909 - I realize no vacancy or maintenance are projected into these returns, as the property is already rented with a tenant that doesn't want to leave and it's been rehabbed within last 90 days. You can call my cell - 269-369-9654 or email me - [email protected]. I also have additional properties that are rented and perform in the high teens, both SFH and Duplexes.

Purchase Price $55,000

Yearly Rent:  $13,200

Management fee (10%):  $1320

Vacancy (10%):  $1320

Taxes:  $679

Insurance:  $650

Maintenance:  $500

Total Net Income:  $8731

Cash on Cash Return:  15.8%

Adjusted for No Vacancy (Unit has 2 - 1 yr. leases in place):  18.3%

Property has been fully rehabbed in last 90 days.  All new furnace, electrical, water heater.  Both sides are rented with Property Management in place.  Completely turnkey and cash flowing from day 1.  Rent to Price Ratio of 2% is not often seen on Bigger Pockets MarketPlace.   Call my cell if interested:  269-369-9654.   

@Susan O. from what I gathered from Dave, at least a year.

Thanks everyone, @Dave Foster was very helpful today per conversation and it turns out I need to have held my properties for quite a bit longer before I 1031 them

Has anyone found a good 1031 Exchange company that they can recommend?  Solid track record, dependability, trustworthiness, reasonable fees, etc. 

thank you!

Based on all the ads I've seen on BP, I imagine this will go pretty quick at 13% CAP and completely rehabbed in the last 90 days, 1 year lease in place!  You get to start Cash flowing from Day 1!  Returns will likely be higher with very small chance of vacancy and maintenance issues the 1st year.

Property management company has historical 6% vacancy rate across over 150 properties. In the event of a vacancy, it's only a $150 lease up fee and units typically fill within 30 days. Evictions are very low % as tenants are screened. In the unlikely event of an eviction, PM will not charge lease up fee in the middle of a lease.

I have 55 Units in Indy, all with the same property management, and they are stellar.

Click on the link for all the financials and pictures. 

All utilities are paid by tenant.

If you're serious about this property, call me, I don't have time to email back and forth with a bunch of curiosity seekers or other turnkeys trying to figure out why I'm way under their pricing. Sorry to be so blunt, but I run a multi-million dollar nutrition business. I'm under their pricing because I am also an investor and I want to feel good about the value I'm offering, and I don't do this for a living and I want to move it quickly.

Cell: 269-369-9654

https://www.dropbox.com/s/enyxbvjz67mc0kv/SFH%20-%...