All Forum Posts by: Nathan Platter

Hi Brendan,

I used to work for a Turnkey company and ran these kinds of calculations all day long. If you send me a Connection request, I'll send you my Calculator. I'll do the same for anyone who does the same, too.

After running your numbers through, they look quite good; 7.7% ROI if you went all cash, 9.9% ROI if get a loan, and a 21% ROI if you refinance after hitting the $160k ROI. That is one good looking deal.

My friend, it's time to pull the trigger. Your patience has paid off. This one is a winner.

Share the before/after pics so we can celebrate your success!

Hi @Nathan Lilly ,

I prefer Memphis because the numbers are stronger. Nashville has much higher appreciation potential but it's many times more difficult to find solid returns that surpass Memphis.

Hi @Jeff Boardman,

Congratulations on taking action and closing your first deal! Keep 'em rolling!

Hi @Ernie Castaneda,

Just from reading other CA investors decisions, a lot of them go for 1-4 unit rentals in the midwest states. Ones that come to mind are Milwaukee WI, Indianapolis IN, Memphis TN, Atlanta GA, and Kansas City MO.

Wherever you can find deals with good ROI is worthwhile when the surrounding market demographics are trending in a positive direction.

Excited to see what action you take!

Hi Ernie,

Just from reading other CA investors decisions, a lot of them go for 1-4 unit rentals in the midwest states. Ones that come to mind are Milwaukee WI, Indianapolis IN, Memphis TN, Atlanta GA, and Kansas City MO.

Wherever you can find deals with good ROI is worthwhile when the surrounding market demographics are trending in a positive direction.

Excited to see what action you take!

Locked in my calendar, looking forward to it!

Hi @Nathan Lilly ,

Memphis is arguably one of the best REI markets in the United States. The Rehab margins fantastic, the ROI for Buy and Hold are in the Top 5 nationwide, and Memphis is a large city with a large population tons of RE inventory.

My personal recommendation is you do REI part-time while still in college and then full time for 6 months after graduation. Go all out. You'll make way more money than your fellow graduates and will build a nice amount of cash before moving away from the goldmine that you're currently in.

Excited to hear what you do next!

Hi Dazrell,

My personal strategy has always been to outsource as much as I can and focus on creating deals. If that's also you, I'd recommend finding a realtor and working with them to build that list and take control of the process and pay them their standard commission for doing all the hustle.

If you'd rather avoid the realtor and keep more of the profits, that seems like a good starting list. Also, make sure the foundation is in good order, look at any seller's disclosure documents (required in some states like mine, Minnesota) and also make sure there are no contractor Lien's on the property.

Excited to hear about your acquisition!

Hi Christopher,

When evaluating a Wholesale deal, I use a calculator that helps me evaluate the (1) holding time from acquisition to selling retail,  and (2) the total financial costs of the project (after getting several estimates)

I always look to buy a property at 0-50% of ARV, and assume the (more major) rehab will be roughly 25% of ARV, leaving 25% "gross profit" to cover expenses like borrowing costs (loan interest, fees, property taxes, insurance, utilities), and selling costs (buyer/broker commission, selling concessions) On occasion a property will only need 10-15% of ARV for rehab/repairs, but that's rather uncommon.

If you leave that 25% of ARV for the Rehabber to keep, they'll ultimately profit roughly 10% of ARV for their "take home" earnings.

Excited to see a few of your deals!

Hi Robert,

Welcome to the BP community!

One name I've seen doing things in the Atlanta market is Norada Real Estate, they provide Turnkey rentals, so they basically do BRRRRR but sell the property to investors who just want a "finished product" without doing all the sweat equity.

Excited to see what your tools, truck, and effort will produce!