All Forum Posts by: Marques Hardin

I'm interested.  Please private me. 

@Bob E. it is.  I have the contract for review.  please send me your email.

Contract for Deed. I have a copy of the agreement if you would like to review it. This note is registered with the state of Alabama. Closing handled by Kristi C. Fuller Law, LLC

SFR 3/1, great condition, great owners, has paid on time for the past 8 months of having the loan. Sold for 60K, $8500 down payment, original note: 4.5%, 96 months, $51,500 amount owed $47,879, 88 months left or $56,232 worth of payments left.

Address: 3200 Herbert Dr., Montgomery, AL 36116 - Selling the note to purchase a multi-family opportunity.  Sell the note for $41K.  Contract for Deed registered with the state of Alabama.  Loan Servicing by Camelot Properties.   Strong cash flow for the next 88 months. 

Please let me know if you are interested.  

Thank you!

@benD May I ask what were the total value of those properties? Or the value of the property you got the LOC on?

https://www.biggerpockets.com/buy_and_hold_results...

Here are the numbers.  The property is not a good deal for a rental.  Comps based on information in Trulia.  http://www.trulia.com/property/3124030332-1319-Bar...

The deal is better suited for a flip -  Additionally, I'm uncertain about the rental potential.

Thank you for your feedback.  The purpose of the post was to get a one-on-one interaction with someone who's done a few of the deals.  Here are the numbers.

SFR (classified) 2/1 up stairs and down stairs, Identical Floor plan. 1728 square ft.

The house can be converted to a duplex by slightly altering the entrance into both units.

Kitchen, bath, fixtures, flooring, paint upgrades needed.  

Big Bear is suited for weekly and weekend rentals.  Maybe permanent depending on the right situation. 

Best guessimate, $800/m long term for each unit. 

Financed, Hard Money 85 LTV at 11% (worse case), Estimated Taxes: $2,475

I'm reviewing 3 opportunities to purchase multi-family unit in Montgomery, AL and Big Bear, CA - the evaluation tool is great but I need additional eyes to make sure I am making the right or wrong decision.  Your help would be tremendously appreciated.  Let me know if you have time to discuss.  Thank you!

Marques

Is there anyone out there who specializes in buying Tax Liens?  Please share. 

I'm excited to be apart of this investment community.  My passion for real estate dates back to 2004 when I bought my first home 4/2 mother in law suite, with swimming pool in Pensacola, FL.  The house needed some updates but 5 months later Hurricane Ivan destroyed my house therefore I was immediately thrust into the real estate investment reality.  Construction.  I probably ran into every problem you can possibly have and lost my *** as result because at the time had no idea what I was doing.  Initially,  I thought the home was an investment but it quickly turned into a major liability.  From that experience, I have researched, talked to many people and have taken classes to become a better investor.  I will admit that experience sparked a lot of fear but I have since conquered that fear and I am now focused on the possibilities.  

Currently I have a small portfolio.  I've played in SELLER FINANCING deals, flips and vacation rentals.  I am looking to do a combination of all three.  I've learned quickly you get the most bang for the buck in investments under 50K by SELLER FINANCING the deals.  I would like to explore that option more to build a long term strategy.