All Forum Posts by: William Byers

Jordan

I would recommend the Lakewood area for your program as outlined.  Depends in part on what you're approved for. 

Subdividing land in Jax (defined as more than two lots) falls into a whole myriad of regulations including road building, stormwater (St. Johns River Water Management District), etc.  Are there wetlands onsite?  I encourage you to engage someone who knows about land development matters before you assume it can be easily (or financially feasible) to subdivide property and get all your permits and entitlements.

if I'm wholesaling or assigning I don't charge a commission in addition.  You need to disclose to all parties up front you are an agent and get everything in writing.  You never know who you're dealing with out there!

Short sale is not a quick solution.  It's an assignment/ lease option deal if the lease/rent rate covers all costs sufficiently AND cash flows. 

Welcome @Jason Carter

welcome @David Wurzel

Carter,

Are these actuals from rent rolls or are they assumed numbers (or better yet, as shared by seller without benefit of rent rolls). $70k per door is pretty high. I also think anything less than 55% for CAPEX is too low.

I would be glad to help you evaluate the deal, and maybe bring you a partner and structure the deal. Equity partner will expect 20-25% ROI. Lending may be tough unless your partner has prior experience in MF and is willing to sign the note.

Welcome @Renauld Elder

Welcome Ken!

Welcome @James Floyd.  Great time to be an investor in Jax!