All Forum Posts by: John Hamilton

HC Homes LLC - hchomeswholesale.com

Assignment of Purchase and Sale contract (Available upon request)

ARV = $32,000

Asking = $16,000

Rehab = $5,000

Taxes = $467 (paid)

ARV% = 66%

COMPs = $33k-$45k

Closing $1,500

Rent = $770

Cashflow = $631

Profit = $9,500 (42%)

Will be vacant upon closing. Can schedule viewing upon request.

ALL CASH As-Is / Where-Is sale , $2,000 Deposit required, Buyer pays all closing costs, Close by 12/22/2015

Pics taken 11/19/2015

 I had an inspector come in and found a sagging beam and some joists that needed reinforcements. Worth the $333 charge as he found other things that needed attention.

I haven't had any specialists come in, yet, but one is scheduled for this Friday.

Doors not closing right, wavy or unleveled flooring, stuck/cracked/broken windows and cracking walls are the visual signs that you have a foundation issue.

Also, for a raised foundation, as in my case, you can see where the water is coming in under the house and erosion is evident. It just so happens that no rain gutters were installed, so guess where the water goes?

I'm hoping we can walk away with no more than $5,000 in repairs and have a great foundation. 

I'm from California, so I've only known concrete slabs my whole life. New to Florida has presented a challenge in accepting that most home foundations in Florida are raised. Which would I prefer? if it had no issues, no-brainer. Slab. If it did have foundation problems? Raised would seem to be less costly in repairing, though I have no experience in either.

I am a local wholesaler and real estate junkie looking to expand my network to those cash buyers out of state/town/country wanting to by investment properties in Jacksonville, FL. Even if you're local, but need some help, contact me.

I can be your boots-on-the-ground. I can give you a market analysis and recommendations of areas to invest in based on your criteria. I can also project manage your rehabs for a share of resale profits or % of rehab cost, if you are buy and hold.

Jacksonville, FL is trending on a booming economy (jobs, businesses, schooling, arts, sports, etc). The housing market varies from beach front, river front and everything in between. Rural, suburbs, beaches, downtown, and business districts. 

The housing prices range from multi-million to very low income. SFH range from great condition to tear-down. Not too many du/tri/quadplex, though they do exist. Just not too much inventory for some reason.

I do work with other wholesalers to bring you a variety of 70% below ARV (minus rehab) properties for rehabbers. Up to 85% for turn-key or Occupied turn-key up to 90% for the landlord investors. Anywhere between the $35K-$120K price range. If you are seeking a higher range, contact me and we can talk about your criteria and range. There are deals to be had in the $120K+ range.

Call me for faster service at 904-557-5063. Or go to www.hchomeswholesale.com to enter your information/criteria. Just enter your name and best email in the form and click on "Get Access to Awesome Deals" button to enter your criteria.

Much Success,

John Hamilton

HC Homes LLC

CEO and President

@Ray A. I'd have to agree with @Jeremy Tillotson. Agreements aren't really worth the paper they're written on when dealing with unscrupulous folks. It doesn't protect you in court sometimes. Or it costs so much in attorney fees to get your small cut of the pie, that you just hand over to the attorney and court for their fees.

Keep at arm's length your cash buyer or your dealmaker from others. Sharing in deals in fine and building a trusting relationship is key. But, for someone you don't know, it's best to keep your golden goose in the shadows.

You will find that this world is small and someone you think is your 'find', 5 others are working with that same person. 

Welcome to Bigger Pockets @Paul Rodriguez!

It sounds like you had a great head start before coming to BP.

Take advantage of the Marketplace (small monthly fee) to present your wholesale deals.

Also, podcast, blogs and the forum are great places to asks questions, learn and take your REI business to the next level.

Awesome on your closing @Gigi Ochoa!

IMO the HOA can be a bear to work with when it comes to non-compliance of your property maintenance, no matter who is residing in the home.

If you have a service to maintain your yard, that's half the battle. Your tenants won't take the same care, contract or not. If it's not too much of a cost, I think installing a sprinkler system on a timer would relieve you of the headache. Then again, your tenants are paying for water to care for your yard, so be prepared for that potential battle.

For those who are interested, the extra costs were not added in (closing, holding and sales) coming in at $5,200. Thanks @Ryan Milne for double checking me on that.

This brings the ARV % close to 80%.

With this in mind, I'm negotiable a little on the asking price. $27,750 firm.

Not the great deal I wanted to present, but it is what it is. Lesson learned for the next deal.

Contract: Off-Market SFH, 3/1, 1190 sqft, 9562sf lot, built in 1957. No mortgage. Owner inherited it over 10 years ago.

Asking: $29,000 all cash. Buyer pays closing costs. ARV=$68,300. Rehab=$20,000, 72% ARV to buyer. $1,164 taxes, Rents for $750-825. This is an assignment contract.

Needs: $20,000 rehab -  shower plumbing in-lines need repair, some soffit/facia repair/replacement, ceiling tiles in some rooms need replaced/added, sink faucet in kitchen needs replaced, All painting needed and some flooring (carpet/lino) needed, bathtub may need replaced, and some kitchen refacing, front awning needs help, front screen room of porch may need some re-screening and part of ceiling replaced, air unit is master bedroom will need replaced, master bed closet ceiling needs repaired.

Updates: New roof, electrical, plumbing under the house to main, detached 1 car garage. Landscape is good. Fences are good.

PICs will be available later this week.

Currently occupied, but will be vacant upon closing. Needs some repair to be rented.

325 W 66th St is located in the Tallulah/North Shore area of Jacksonville, FL. At this time, the property has an estimated value of $68,300 and yearly taxes of $1,164. This home has 3 bedrooms, 1 bathroom, and approximately 1,086 sqft of living space. The property was built in 1957. Similar homes nearby have 3 bedrooms, 1 bath and sell for around $70,000.

COMPS:

1) Sold for $93,000 on 9/20/2015
9212 Greenleaf Rd, Jacksonville, Fl, 32208
3/1/1184sf/7099sf

2) Sold for $88,000 on 9/3/2015
7331 Wakefield Ave Jacksonville, Fl, 32208
3/1/1038sf/0.24ac

3) Sold for $85,000 on 8/14/2015
9453 Sibbald Rd, Jacksonville, FL, 32208
3/1.5/934sf/8349sf 

Buyer takes on all responsibility and is to perform their own due diligence. Selling as-is, where-is.

@Michael Quarles who says the removed reply included an answer? It could have been a grumpy Gus spouting off. or have vulgarity. who knows? (Brandon and Joshua, lol)

@Andrew Wallop

I am using Lead Propeller to do all the work for me. I advertise the website URL. The website has forms for motivated sellers to fill out. Buyers, too. This gets tracked and fed into the CRM system.

I have my business phone as well, however, I'm not sure if I need service to handle the call volume, if any (I'm thinking most are going to use the website and form).

I agree with @Rahul Bura. I'd like to take the calls live and capture the lead information with the hopes of getting to a signed contract as soon as possible over the phone. Even if I have to meet them at the house eventually to view the condition, I'd rather keep the lead alive. 

Think of it as fishing. Once you have a fish (lead) on the hook, the quicker you get them into your net (deal - signed contract), the better. Or, they might slip off the hook never to be seen again (dead lead).

A friend of mine from Australia uses VOIP. I will be looking into that if the phone call volume gets to be too much. Working full time and doing real estate full time begs for systems t be in place. However, there is nothing like talking to a live person. I'm just blessed enough that I can take a few calls here and there throughout my work day.