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All Forum Posts by: Jesse Ozar

Jesse Ozar has started 5 posts and replied 14 times.

Post: $280k instant equity, 28% below market rent, triplex zoned for 7

Jesse OzarPosted
  • Santa Monica, CA
  • Posts 18
  • Votes 1

Hey Jarrad, could you please send to [email protected], thanks

more like 5%, 2.5% to listing, 2.5% to selling agent

5% to agents. Thanks Mindy

Post: our Analysis is showing different numbers, please help!

Jesse OzarPosted
  • Santa Monica, CA
  • Posts 18
  • Votes 1

First, I apreciate the input. We went worst case scenario here with all our figures.

I just cant seem to figure out why we have such a discrepency in our figures.

finding out total profit if sold

say YR 10 value is

$1,275,377

one would have to subtract, (remaining loan), (down payment), and (5% closing).

those numbers (684,044), (94,900), (63,768.85). If i subtract all those from the value of the property, I get 432,664.15. BP is saying (highlighted in chart)442,249? 

That is a difference of 9584.85! 

Am I missing something, or is BP not taking something out?

Im just puzzled here. And like I mentioned before, thank you for the responses.

Post: our Analysis is showing different numbers, please help!

Jesse OzarPosted
  • Santa Monica, CA
  • Posts 18
  • Votes 1

Based on our analysis we have come with a different number for year 10's "total profit if sold." Here are our numbers

If Total Value of home in year 10 is

$1,275,376.64

and remaining loan is

$684,043.86

Down payment

$94,900

and finally a 5% sales expense leaves one with

$63,768.83.

Equation

---------------------

1,275,376.64

- 684,043.86

- 94,900

-63,768.83

---------------------

= $432,663.95

The difference of 442,249(highlighted) and (our calculation) 432,663.95, comes to

$9,585.05!!

I guess the question is, how are we coming up with such a huge difference in "Total Profit if Sold"

thank you for hanging in there :)

Post: not coming up with the correct numbers NEED HELP

Jesse OzarPosted
  • Santa Monica, CA
  • Posts 18
  • Votes 1

Based on our analyisis we have come with a different number for year 10's "total profit if sold." Here are our numbers

If Total Value of home in year 10 is 

$1,275,376.64

and remaining loan is

$684,043.86

Down payment

$94,900

and finally a 5% sales expense leaves one with 

$63,768.83.

Equation

---------------------

1,275,376.64

- 684,043.86

- 94,900

-63,768.83

---------------------

= $432,663.95 

The difference of 442,249(highlighted) and (our calculation) 432,663.95, comes to

$9,585.05!! 

I guess the question is, how are we coming up with such a huge difference in "Total Profit if Sold"

thank you for hanging in there :)

Owner occupied, thanks for the response Shaun.

In search for low cost jumbo loans for 2-4 unit properties with less than 20% down. Been on the hunt, and can't seem to find anything. Need some assistance from my BP family :)

Thank you thank you thank you!

Post: INVESTOR NEEDED. Dream Location Remodel or Rebuild A+++ location

Jesse OzarPosted
  • Santa Monica, CA
  • Posts 18
  • Votes 1
Here is info for remodel or rebuild, in true a++++ location in Santa Monica CA.

The property is a 7106 SF on 7500SF lot in SM zoned medium density R3.

It is currently 24 boarding/studio units (confirmed with DBS and Rent Control Board).

It is currently 100% unoccupied and a security guard stays there to keep squatters out.

I must make clear that currently it is only plumbed for 8 bathrooms total, and that is confirmed by a case that happened in 2013 when he had only 2 tenants left.

There are a couple scenarios that we went over with the DBS and Rent Control Board:

1. you can demolish the 2 buildings which will trigger ellis act, but what you can rebuild is 5 (1unit/1500SF) townhouse or condos 2 stories/30ft high without triggering any affordable housing clauses, and either sell them for $2.5/$2.9MM or lease them for $10/$12K/mo. As you know this is a process in SM, but could be done. (comp emails will follow)

2. you can keep it at 24 units, boarding house style, maybe some kind of silicon beach transitional housing (since tenants will need to stay at least 30 days). Or make it 24 full studio units and add 14 bathrooms. Studios in the area are renting at $1850-$2100 units and are 350-400SF. The math shows that you would get 24 x 296SF units which would maybe rent for less or maybe the same if you got a very creative architect to make the small spaces functional.

These are just some ideas.

Let me know what you think!