All Forum Posts by: Jonah Slove

 Ok thanks. I am reading Matt's article linked to the show notes and that explains building a spreadsheet, just thought I wouldn't reinvent the wheel.

I am looking to calculate various properties return beyond just COC. Currently I am looking at one that would barely cashflow as a LTR but it's in a great area and purchased subto with 2.75%. I am also looking at wrapping it.

Sparked by this weeks BP podcast on expected returns, I am looking for an IRR calculator. Can someone share what they use please.

Hey BP,

I posted a little about this project in another thread but wanted to post an update here. This other thread was more focused on the initial subdivision and purchasing process.  https://www.biggerpockets.com/forums/12/topics/1136927-land-...

I run a small organic farm in Victor, ID. 30 min from Jackson Hole and close to Grand Targhee ski resort in Idaho. I recently closed on the purchase of 12 acres with the help of a family loan, and the farm service agency ( 1.5% for 20 years). Now I am in the early stages of development.

I am working with a consulting firm to help with a concept plan, engineering, and to get the city to sign off on everything. I will create 6 residential lots that I will be able to sell off and then, ideally, own the remaining property free and clear or close to. I plan to use a HELOC for the improvements to create lots with improvements.

My plan for the rest of the parcel, now roughly 7 acres, is to built a primary home for my family, and to put in 5-6 cabins. These can be STR or LTR. Both have perks and strong demand here. I am working to build out some models for each but I don't have a clear idea of the route forward for construction or long term financing. I imagine the home I can use a construction loan or my heloc again to complete and then get a traditional mortgage as that will be on its own lot, but the cabins will all be on a large lot containing the farm itself. What type of lender or product should I consider? How will they value the land so I can look at LTV and other metrics when modeling my financials?

I am working on an agritourism project with a primary home for myself and additional 5-6 or so cabins that will be BTR or ADUs. P and Z  is on board as this will increase the financial  sustainability of my small farm.

seems high. this town is very expensive so bids are always highs.

For the residential I plan to just build lots.

For the farmstead area our plan is to build our primary home and then 5 smaller cabins for rentals.

That road above is a smaller access road to the little cabins. They will not be in a separate lot but a larger farmstead parcel. This property also has a lengthy set of covenants that go along with the purchase agreement. The former owner sold to me because I run the community farm and he wants to insure the farm stays active.

Update: We closed on this property and went ahead with the short plat process to create the new 12 acre parcel! I was also approved for the FSA loan at 1.5% :)

Now I am working with a planning and engineering firm to create the concept plans and stamped drawings for the full subdivision. Their proposal was for $40k but not sure I have any other local options.

Hey BP,

I am looking to buy a property using a contract for deed where the existing mortgage stays in place. The seller is moving and wants to purchase again. I suggested a lease option. Are there any lenders in TN that can use a lease to pre approve a buyer in this scenario. Credit and income are strong.

 why do you assume that? they are below market price and 0% owner financing. that sounds like a deal most investors would have jumped on.

 Very helpful! I am OOS but my partner is local and will manage properties, and handle repairs / contract out work for any fix and flips we get into.

I will check ARIES but these are from a guy who's owned for at least 20 years. Tired landlord is an understatement. 

 what class is 43608? Ive got a few single and multi family with a motivated seller. And 43604?