All Forum Posts by: Mike Snyder

Cash Flow For Sale - $55,000 OBO

This property is recently fixed up (see pics at the link below) with a Section 8 tenant ready to move in this month at $880/month.

Single Family Home

Brick Construction

Full Basement

Use our Property Manager or your own.

Looking for a cash buyer who can move quickly. 

Monthly Cash Flow at 70% of rents is $616/mo.

This is better than a 13 CAP using 70% of Gross Rents at our sale price.

Click this link for Pics: http://stlouisinvestordeals.com/property-listings/listing/796

Call or Text Mike today at 314-207-3434 for Access, Questions or to make an Offer. 

I'm selling the contracts on 2 fix and flips in St Louis. 

Deal 1

Located in 63132 (Great area as any of you in STL know.)

Purchase Price - $360,000

Fix Up - $60K to $120K based on what level. You'll have options in this area.

ARV - $475K to $600K based on your finishes.

Closes on or before 8/17/18

Deal 2

Located in 63021

Purchase Price - $132,000

Fix Up Est - $60,000

ARV Est - $250,000

Closes on or before 8/17/18

Best way to reach me is through email at [email protected] with questions and for more details. 

Thanks,

Mike

Robert - My property manager has recently taken over from the previous owner's management companies. I bought 24 properties from the guy and peeled off the ones that are occupied. The others need work and are being fixed up.

And I'm not interested in owner financing.

Dan - No, not interested in holding paper on these. 

Don - We're working on pictures now but don't have them ready yet. The properties are in a good, rental level condition. Shoot me an email and I can send them over when ready.

And here is a map of their locations. All are north of downtown STL.

Turn key rental buyers, I have 16 single family homes in St Louis that are ready to sell. 

- I own them so I'm not representing a seller here. 

- 14 have tenants and 2 are currently being turned over. 

- 1 Sec 8 and all others have traditional tenants. 

- Property Manager in place. 

- Rents range from $675 to $970. Average is $820/mo.

- Sale Prices range from $51,000 to $74,000 and all are priced at a Net 70, 11 CAP.

- Willing to sell them 1 at a time or the entire portfolio. 

- The portfolio brings in $13,115 per month gross when all are rented which is $157,380 per year. 

- At 70% of gross, the numbers are $9,180 per month and $110,166 annually.

- 14 have 3 beds and the other 2 have 2 beds. 

- Mix of 1, 1.5 and 2 baths.

- 3 were built before 1950, the other 13 in the 50s and 60s.

If these seem like your cup of tea, let's talk and I can send further details. Reply to this post or my email is [email protected].

Thx,

Mike

Hey BP,

My name is Mike Snyder. I'm in Denver and currently working as VP at FreedomSoft. Some of you know FS was sold back in March of this year. Full time at the new gig and still part time flipping houses. I have a cosmetic rehab on the market and a scrape project that's about half way complete. Started in RE back in May of 2008. Mostly fix and flips but also wholesaled a few along the way.

I've heard good things about this place so thought I'd check it out. Always looking to connect with others moving in the same direction.