All Forum Posts by: Jonathan Napper

If I was able to buy a property for more than 30% below Fair Market Value and Appraisal, would any HML provide 100% of the funds used to acquire it? Class A asset and HML would have the only lien on it. (If not, what if I put $1k down or $5K down)

Thanks

Jonathan

I am looking for a good Attorney for Kentucky & Tennessee acquisitions, or a recommendation for a good one. 

Seller Financing & Lease Options. 

Thank You

Jonathan 

I am about to make an offer on this Duplex and would appreciate if you guys could double check my logic and point out anything I may have missed. I have my financing lined up. Both Units are leased and agreements have been verified. I have $5,000 dedicated repair fund set aside - until cash flow can match. 

2 Unit Duplex - $450 per unit.

AP $39,000

Offer $35,000

20% Down ($7,000)

Finance $28,000 30 YR @ 4% = $134 PM

GSI - $10,800

Property Manager - ($1,080)

Taxes - ($703)

Insurance - ($600)

Total Operating Expenses - ($2,383)

NOI - $8,417

Debt Service - ($1,604)

Cash Flow Before Taxes - $6,813 ($499 pm)

LTV 80%

Cash Flow from Initial Investment 97%

ROI on Assets 19%

Cap Rate 24%

*I can capture $1,300 in depreciation per year*

THANK YOU

Hello fellow BP memebers, can anyone provide a CPA recommendation in Louisville KY? Obviously with Realestate exposure. 

Thanks

Jonathan 

oops, that on me. Let me clarify, the brokers documents stated that total as "if not separately metered" but the building IS separately metered.  

The broker said that, that expense total reflects a NON separately metered total. Each unit has its own meter. 

Let me rephrase my question, can you buy properties that cash flow at retail prices, like off of LoopNet and such?

Hello BP, 

I am looking for Wholesalers or Bird Dogs in the Southern Indiana & Kentucky areas. Please add me to your Buyers list at JNNR900@gmail.com or message me.

Strategy: Buy/Hold or Buy/Fix/Hold

Criteria: Acquisition Cost under $200K, prefer Multi Family, SFH and will look at Raw Land.

Thank You

Jonathan

Essentially, I need to change where I find deals. Zillow, Trulia and Loopnet are retail outlets, I need to work the deliquent tax list and connect with some wholesalers.

In order for the cash flow and wealth to come from a property, must it be purchased at substantial discount? (Whether it be for buy/hold, flip or wholesale)  Can RE wealth and cash flow come from "retail" prices?  Is a fair price for good asset really provide cashflow and wealth?

*Excluding dramatic appreciation increases