All Forum Posts by: Jordan Archer

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...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 only 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 Kansas City. 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 Redar

@Joshua D.

Forget wholesaling it...KEEP IT!

This is a great cash flowing multifamily property. Especially at the price you acquired. 

Besides, I guarantee there would be a buy and hold investor in your area that would love the properties if you did plan to wholesale.

Good luck!

Jordan

@Account Closed

No assignments on REO.

MUST DOUBLE CLOSE!!!

- Jordan

@Johnathan Anderson

Welcome.....

Go straight to the podcasts my friend.

- Jordan

@Account Closed

So, your best bet would be a wholetale, not a wholesale.

If you bought it for 145k (assuming you don't use any realtors), and resold it for 160k (using realtors) your numbers will look something like this:

Sales Price: $160,000

Purchase Price: $145,000

Commission and closing costs (9%): 14,400

Holding costs (assume 3 months): $3,000

NET PROFIT: -$2,400

ie. You'll take a loss on the property.

NOT A GOOD DEAL UNLESS YOU CAN GET IT FOR CHEAPER OR YOU CAN SELL IT FOR HIGHER....even then the profit is thin.

Good luck!

- Jordan

@John Thedford

Totally agree!

Buy and hold is where it's at.

lol "Hello all...my friends, haters..." Nice...

- Jordan

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...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 only 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 Kansas City. 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 Redar

772-577-0084

@Cody Clapp

Finding deals is a grind. It's more than a full time job. Do what everyone else IS NOT DOING. For example, I was knocking on doors to find some of my deals, and putting out tons of bandit signs (though not recommended). Keep cold calling. Never stop working your leads, and make a religious habit of your core marketing tactics. Consistency and Persistence my friend ; )

@Cha Yang

If your buyers are buying at 80%, then yes. Every wholesale I did in Port Saint Lucie, FL would sell as long as I locked it up at 80%, because the competition was so tight. However, if your buyers are only paying 60%, then that's your numbers. KNOW WHAT YOUR CUSTOMER WANTS!

- Jordan

@Brian Wy

Market analysis usually consists of a thorough understanding of the job market (growth, key players, supporting industries), as well as demographics and population size. Do your homework on the area you are interested in by calling your local government, and asking if they plan on any new development or expect to see any large companies moving to the area. 

Reach out to brokers and go to your local REIA to see what areas are great for investing, and what areas you should be weary of.

Also, get out there an drive through neighborhoods to get a feel.

Usually, a good neighborhood brings a better tenant with less management. That being said, you must consider what risk, return and level of hands-on management you want with your investment.

Good luck!

- Jordan