All Forum Posts by: Jason Hill

Welcome Home!! Great value and location on this completely renovated brick ranch home. Spacious, open floor plan features 3 bedrooms and 1.5 bathrooms on the main level, with 1 bedroom or office and 1 bathroom in newly finished, walk-out basement. Basement is ready for a kitchenette or wet bar. All floors, doors and lights throughout are new. New carpet in bedrooms and basement, and laminate hard wood throughout the rest of the house. New cabinets in the kitchen with granite counter tops and a skylight for natural sunlight in your new kitchen, which also includes a pantry, a brand new dishwasher and range hood. Bathrooms have new floors, cabinets and countertops. Walk out of your living room to a 2-level deck overlooking large, private back yard. You'll also find two beautiful bay windows located in the country-style kitchen, as well as the dining room. Updated 150 amp electrical. This home is approx. 1368 sq. ft. on the main level with approx. 900 sq. ft. on the lower level, giving you almost 2400 sq. ft. of living space. Central air and a wood burning fireplace makes this home perfect for Michigan living. You must see this home to appreciate it. Located in Ypsilanti Township between Packard and Ellsworth, only a few minutes from St. Joseph's Hospital and Eastern Michigan University.

ASKING PRICE: $190,000

For more information, and to see photos, please visit our website:

http://bridgewayhomebuyers.com/279_n__hewitt

I'm looking into building my business credit and achieve a line of credit for my real estate investing business. Their services include a legal firm filling in my data for the business credit profile, which they say is more than a DUNS completes as well as then applying for funding options . I'm curious if anyone has used them and what your experience has been. Thanks!

Thanks for your message Paul!

We're looking at less than 2 months rehab and to have tenants in by August 1. The year to year return on cash flow profit is 3%, however the better part of the deal is when we sell, the share of profits will be distributed as well. Here is the breakdown I have. It assumes a 2 year hold and sale. I also have conservative 2 month vacancy, which is not likely, but good to use in the numbers. I've ran numbers on 2 ARVs based on market and appreciation:

Returns with 55k @ 15%

Total 2 years plus sale ARV 1 with realtor $10,414.50 19%

Total 2 years plus sale ARV 2 with realtor $16,752.00 30%

Total 2 years plus sale ARV 1 without realtor $13,789.50 25%

Total 2 years plus sale ARV 2 without realtor $20,352.00 37%

Returns with 20k @ 5%

Total 2 years plus sale ARV 1 with realtor $3,471.50 17%

Total 2 years plus sale ARV 2 with realtor $5,584.00 28%

Total 2 years plus sale ARV 1 without realtor $4,596.50 23%

Total 2 years plus sale ARV 2 without realtor $6,784.00 34%

I see your point in the risk of loss is on the investor. What would you need to see to reduce your risk?

Thanks,

Jason Hill

Hello,

My partner and I are looking for an equity partner for a deal on a hold property in Ann Arbor, MI. This is a high rent district where there is already a shortage of housing for the student population.

Currently it is a single family residence, 2 bedroom, 1 bath + 2 halfs. It is 3 stories plus a basement and overall in really good shape. We're buying this from a private seller.

The offer we're almost done negotiating will require 20k down. Additionally we need to finance roughly 35k in renovations for converting the house from single family to a student rental. We plan to have a total of 5-6 bedrooms, 2 baths and 2 half baths by the time we're done. We also need to repair 2 porches. Some other mostly cosmetic modifications will be done to make this a legal rental for up to 6 people per zoning.

We will have a 2 year interest only land contract with the seller benefiting us with financing. After we own the house for 12 months, we plan to refinance it to pay off the seller. We already have confirmed with a bank the ability to do this coming from a land contract. We would place it on a 30 year mortgage in order to maximize cash flow.

Our intention with this is to hold it for at least 2 years if not longer as it will cash flow very well. We are also planning to place it under rental management with a well known property manager in Ann Arbor who specializes in student rentals for 7% of the rent. If there is an opportune point in time to sell afterwards we might consider it.

For a $55k investment we are now offering a 15% stake in the property profits. Return of the principle would be at the time of sale. The other option we would like to offer is a 5% stake for a $20k investment. This also is a long term investment with the principle returned at the time of sale. Earnings are on the percentage of cash flow from rent (distributed regularly) as well as profit when we sell.

Please contact me for more information on this deal! Thanks!!

Jason Hill

734.845.9862

[email protected]