All Forum Posts by: Matt John

sold 5 months ago

7 Unit multi family apartment in mckees rocks,pa. Asking price $350k. 6 out the 7 units occupied. Currently rents are under market value. All rents at market value would generate over $69.6k annually. If interested please pm or post contact info. 

Hello I'm wanting to build duplexes in Houston, Tx. I have an area that I'm focused on that's hot. I have a architect I'm been talking to. Other builders that can help for guidance in the area. I want to shadow a general contractor through the whole process because after two or more builds I want to take over the projects from there. 

My rough estimate for the project:

80k for the land

170k to build

Sale price range 330k to 450k (based on comps)

Net profits should be 80k to 230k per a build. 

I will have skin in the game as well.  For 50k to a 100k.

Rents will be 1400 to 1800 per side. 

3br 2 baths each side

What I'm looking for: 

I'm looking for investors who want to make 20% return on there money when the property is sold. (Short term investors)

Also looking for investors how want invest and hold the property. Where they can good money on a low build but yield high rents. (Long term investors) 

Or other builders in Houston or wherever that want to joint venture or work together some kind of way. (partners).

And anybody else with help, experience, or guidance would be very much appreciated. 

I plan on making this a full time job for myself. 

My background:

I do own other real estate that I had to renovate. So I'm knowledgeable on building and constructing existing structures. 

I have a degree in engineer. So I understand blue prints.  I understand processes and how the proper sequences should flow. 

I owned a business before so I understand businesses and the way it should be conducted. 

Please contact me if you have any other questions.

Thanks Jason, I have contracted a refundabe deposit but how do I show that I have payed them? 

I have a question reguarding earnest money. If it is payed in cash to seller and I want to back out is there any way to get my money back? I payed them 2,000 in cash. They do not want to give the money back. Am I screwed? 

I'm no expert. But in my opinion if you had a bad heart would it make sense to live 25 miles from the nearest hospital or run across the street to the hospital. I think it would provide a peace of mind to your tenants no a police station is across the street. How much crime do you think would happen there or attempt to happen. I think it would attract more responsible tenants to your place. I would use that as a selling point or renting point.