All Forum Posts by: Jordan Archer

Bp,

Does anyone have a hard money lender than can close on a property this Wednesday (03/31)?

The property is located in FL.

Purchase price: 215k

Appraised value 275k

Title is clear to close on Wednesday, but my current lender will not be clear to close on Wednesday. Seller already issued an extension, and is not willing to offer another, so I'm in really hot water with this!

I need am emergency private lender or hard money lender who can close FAST!

Call me at 772-577-0084 or message me.

Thanks!

@Dhruv Patel

I'm a licensed agent in South Florida, and I also wholesale/flip properties. If you are going to be playing both sides of the fence, I feel it is very important to be honest with the seller about the TRUE value of their home. As a flipper/wholesaler you are usually trying to convince people that their home is worth less than it really is, and that it is in their best interest to do a quick cash sale with you. However, as a realtor it is the opposite. 

I really don't like the idea of tricking people into sell to me at a discount. Rather, I always come in to the situation as if I was their agent. I tell them the retail value of their home, average days on market and typical issues they can expect when selling based on the condition of their home. I tell the seller that it is usually always in their best interest to sell retail because they will receive more money. However, that is not true for everyone, and you'd be surprised that even by giving them all of the honest information that they still want to sell quickly for a discount. So, after my realtor pitch, I say that another option I offer is to purchase their property myself at 70% of the retail value I provided earlier. 

Using this strategy I list somewhere between 10 - 15 properties a year, and I flip/wholesale about 2 - 4. This strategy keeps my conscience clean, and upholds my ethical obligations as a realtor. 

Consider that being a wholesaler is roughly the same job as being a realtor. As long as you don't cross the line ethically, you stand to do a lot more business with a license, and you also have the benefit of the MLS, which is critical for accurately determining the AS-IS and Retail values of the home.

Hope this helps

Hello BP,

Currently, I’m raising $1mil in private money for the downpayment on a $5mil commercial loan. The next down turn is expected to commence this year, 2020, and I’m positioning myself to get involved in multifamily acquisitions at this opportune time.

In the next 24 months I will be purchasing a 20 - 30 unit apartment complex in one of the following markets: Sant Antonio TX, Orlando FL, Atlanta GA and Colorado Springs CO, I’ve chosen these rental market for the following reasons:

1. Population Growth: Orlando’s population grew from 2,512,917 to 2,572,962 from July 2017 to July 2018, a difference of 60,045. That was topped only by four metro areas in the nation: Dallas (131,767), Phoenix (96,268), Houston (91,689) and Atlanta (75,702), the bureau said. Source: https://www.bizjournals.com/orlando/news/2019/04/19/metro-orlando-population-grew-by-60-045-last-year.html)

2. Ensured Performance through Stable Job Growth: Orlando ranks third for job growth in the category for large cities with populations greater than 500,000. The City Beautiful added 128,600 jobs from 2016-2019. That's a growth rate of 11%. At the end of July 2019, Orlando had 1,328,400 total jobs. (Source: https://www.bizjournals.com/orlando/news/2019/08/28/see-how-orlando-ranks-among-big-u-s-cities-with.html).

3. Historical Rent Figures - Though the cap rates in these areas are currently unfavorable due to where we are in the market cycle, historically there have been opportunities to find projects with cap rates over 8%. (Source: Creative Realty Partners - http://creativerealtypartners.com/wp-content/uploads/2016/10/Orlando-Multifamily-Outlook-8.15.16.pdf)

What can you expect from your investment?

1. A completely passive cash-flowing investment: I do all the work involved, including property maintenance and tenant placement.

2. An 8% preferred return, then a 70/30 split on: After all expenses and debt servicing, your COC return will be approximately 10% (or more!). I won't consider anything with a total COC return of less than 15%.

3. PEACE OF MIND: I take extra precaution when dealing with your money through insurance policies that protect your property against any possible damages, and the loss of income that results.


If you or anyone you know is interested in working with me on a future project, give me a call at 772 - 577 -0084.

@Ryan Seib and @Yonah Weiss 

Thanks  a lot guys. I was hoping there would be some kind of standard rate. Really appreciate it!

Hello BP,

I’m an active investor, flipper and realtor (#3365094) in the South Florida Real Estate Market. Over the past 2 years I’ve purchased, sold, rehabbed and managed dozens of single family and multi-family properties in Palm Beach, Martin and Saint Lucie Counties.

Now, I'm building capital for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of over 15%.

Any and all property management would be handled by me, so your investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $1mil for the downpayment on an 80% LTV loan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from Orlando, FL. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Archer

772-577-0084

Thank you @Peter C. 

I am not advertising any particular deals atm, more just building relationships with people interested. 

If I did find someone by advertising an actual deal I would make sure they were accredited. 

How are the syndications going in Chicago?

@Chris Salerno

What are the other asset classes you are looking at, and what about them is attractive to you as an investor? 

Hello BP,

Currently, I’m raising $1mil in private money for the downpayment on a $5mil commercial loan. The next down turn is expected to commence this year, 2020, and I’m positioning myself to get involved in multifamily acquisitions at this opportune time.

In the next 24 months I will be purchasing a 20 - 30 unit apartment complex in one of the following markets: Sant Antonio TX, Orlando FL, Atlanta GA and Colorado Springs CO, I’ve chosen these rental market for the following reasons:

1. Population Growth: Orlando’s population grew from 2,512,917 to 2,572,962 from July 2017 to July 2018, a difference of 60,045. That was topped only by four metro areas in the nation: Dallas (131,767), Phoenix (96,268), Houston (91,689) and Atlanta (75,702), the bureau said. Source: https://www.bizjournals.com/orlando/news/2019/04/19/metro-orlando-population-grew-by-60-045-last-year.html)

2. Ensured Performance through Stable Job Growth: Orlando ranks third for job growth in the category for large cities with populations greater than 500,000. The City Beautiful added 128,600 jobs from 2016-2019. That's a growth rate of 11%. At the end of July 2019, Orlando had 1,328,400 total jobs. (Source: https://www.bizjournals.com/orlando/news/2019/08/28/see-how-orlando-ranks-among-big-u-s-cities-with.html).

3. Historical Rent Figures - Though the cap rates in these areas are currently unfavorable due to where we are in the market cycle, historically there have been opportunities to find projects with cap rates over 8%. (Source: Creative Realty Partners - http://creativerealtypartners.com/wp-content/uploads/2016/10/Orlando-Multifamily-Outlook-8.15.16.pdf)

What can you expect from your investment?

1. A completely passive cash-flowing investment: I do all the work involved, including property maintenance and tenant placement.

2. An 8% preferred return, then a 70/30 split on: After all expenses and debt servicing, your COC return will be approximately 10% (or more!). I won't consider anything with a total COC return of less than 15%.

3. PEACE OF MIND: I take extra precaution when dealing with your money through insurance policies that protect your property against any possible damages, and the loss of income that results.


If you or anyone you know is interested in working with me on a future project, give me a call at 772 - 577 -0084.

@Karen Margrave

Thanks for the motivational push. 

So to follow up, I was looking for title insurance in Texas, and because title insurance rates are statewide (at least in TX) the answer to my question is as follows:

For a $1mil purchase , $5,575 - owner’s title policy premium
Plus $1115 if you order aSurvey, T19 (mineral survey) and endorsements

For a $2mil purchase: $9,905 - owner's title policy premium
Plus $1,981 if you order a Survey, T19 (mineral survey) and endorsements

For a $5mil purchase: $22,895 - owner's title policy premium
Plus $4, 579 if you order a Survey, T19 (mineral survey) and endorsements

Hello BP,

I’m an active investor, flipper and realtor (#3365094) in the South Florida Real Estate Market. Over the past 2 years I’ve purchased, sold, rehabbed and managed dozens of single family and multi-family properties in Palm Beach, Martin and Saint Lucie Counties.

Now, I'm building capital for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of over 15%.

Any and all property management would be handled by me, so your investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $1mil for the downpayment on an 80% LTV loan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from Orlando, FL. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Archer

772-577-0084