All Forum Posts by: Jason Richardson

UPDATE  -  Price Drop To $38K

NEW ROI/Cash On Cash - 13.1%

This property is no longer available. 

SOLD on 6/26/15!!! Thanks to all who viewed the ad.

We have a great property in Osceola that needs some TLC. It is one block from the St. Joseph River, and the same distance to a slip dock for your boat. Would make a great high cash flow rental, or profitable flip. Monthly rental income, after rehab, could support between $850 - 900/mo (depending on how nice of a rehab). ARV comps for the area support between $80-100K, and would depend on how nice you make it. There is room on the lot to expand. Property is on septic/well, as it is located in the county. We have rough-estimated a rent-ready condition rehab to cost around $15K.

Here are the numbers, as a cash-flow property:

6** Barnes St, Osceola, IN 46561 

Potential Monthly Income - $850

Yearly Income (Including 1mo vacancy) - $9,350

Yearly Insurance - $600

Yearly Management and Maintenance - $1,870

Yearly NOI - $5,573.54

ROI - 16.4%

Serious inquiries only. Email for more information.

We have a wonderful 3 bed / 1 bath home that we are selling for $23,000. It is currently occupied but the renters will be moving out shortly. The house is in great condition and has been well maintained. There is no rehab needed, it is rent ready!

5** Birdsell St, South Bend, IN 46628

Total Monthly Income - $600

Yearly Income (Including 1mo vacancy) - $6,600

Yearly Insurance - $600

Yearly Management and Maintenance - $1,320

Yearly NOI - $3,059.64

ROI - 13.3%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this package and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period. We provide in-house property management and rehab services to our buyers, if needed. Serious inquiries only. Email for more information.

Package of 60 Homes

26.3% LRR

34.7% Pro Forma

Elkhart County, IN

$2,400,000

This is a package of 60 single family residences all located in Elkhart County in Indiana. The package is professionally managed by the owner and his staff, and they would be happy to stay on to manage for a new owner. All have been well maintained and updated as needed, and all are in C and above neighborhoods, no war zones. Current gross monthly rents are $34,635, which is $4,000 below market rents, but the average occupancy term for the package is 40 months long and the average occupancy level ranges between 97 and 100% occupied. These are the last 60 left of a much larger portfolio that the owner has acquired over the last 12 years. Cash on cash returns run 11.6% to 13.3%, current gross to pro forma, and leveraged rates of return run 26.3% to 34.7%.

Elkhart County is considered to be the “RV Capital of the World”, producing more RV’s, campers and travel trailers than anywhere else in the world. With over 26% of the people living in the county employed in the RV industry, it ranks 21st out of 2,903 US counties in the number of manufacturing jobs available. Unemployment rates are currently among the lowest in the state at 4.9%. Median household income for Elkhart county is $30,200, with the average county household income at $54,556.

Serious inquiries only. Email for more information. 

This house does need some TLC, but for the price you can't beat it! We have already gone through and priced the rehab. It is a 3 Bed / 1 Bath home with great potential! This property would make a great flip house for an investor, or local landlord, willing to put just a bit of time and effort into it.

7** Cleveland Ave, South Bend, IN 46628

Monthly Income - $625

Yearly Income (Based on a 1 month vacancy) - $6,875

Yearly Taxes - $540.98

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,375

Yearly NOI - $4,359.02

Rehab Cost - $3,750

ROI/Cash On Cash - 22.1%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this package and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period. We provide in-house property management and rehab services to our buyers, if needed. Serious inquiries only. Email for more information.

We have a great property for sale on the South-side of South Bend. Family-friendly, safe neighborhood, and conveniently located to good schools and shopping centers! This property is a 2 Bed / 1 Bath with a partially finished basement. Current tenants are using the basement as an extra room. It has a detached garage and a nice sized back yard. The current tenants are moving out within the next 10 days.

198** Detroit Ave, South Bend, IN 46614

Total Monthly Income - $800

Yearly Income (Based on 1 month vacancy) - $8,800

Yearly Taxes - $1,445.08

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,760

Yearly NOI - $4,994.92

ROI/Cash On Cash - 11.09%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this package and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period. We provide in-house property management and rehab services to our buyers, if needed. Serious inquiries only. Email for more information.

We have a wonderful investment property for sale in the Near-Northwest Neighborhoods. It has hardwood floors, large spacious rooms, 4 bedrooms, 2 bathrooms, newer mechanicals and a garage. This rental has long-term tenants. The tenants have been there for 2 years and plan on staying, which means immediate income! 

Here is a breakdown of the numbers:

10** California Ave, South Bend, IN 46616 

Total Monthly Rent - $625

Yearly Income (Based on a one month vacancy) - $6875

Yearly Taxes - $1508.94

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1375

Yearly NOI - $3391.06

ROI/Cash On Cash - 13.56%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this package and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period. We provide in-house property management and rehab services to our buyers, if needed. Serious inquiries only. Email for more information.

We have a wonderful investment property in South Bend IN for sale! You don't want to miss out on this one. It is fully rehabbed and rent ready! It is located in a decent rental neighborhood. This property is a wonderful investment for an out of area investor or a great pick-up for a local landlord. The purchase price is $25,000, and again there is no work needed!

12** E. Dayton St, South Bend, IN 46613

Total Monthly Income - $600

Yearly Income - $6,600 (calculated 11 month tenancy)

Yearly Taxes - $872.36

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,320

Yearly NOI - $3,807.64

ROI/Cash on Cash - 15.23%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this package and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period. Serious inquiries only. Email for more information.