All Forum Posts by: Nir Sheinbein

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $113,000
Cash invested: $160,000

In Nov 2018 we purchased a 3/3 1,800 sqft house for a total cost of $180,000 with no mortgage.
We converted this house into a 4plex. We split the main buildings into 3- 1 bed 1 bath units. And we converted the garage into a studio unit.
We are currently renting all units out for $3,550 a month

How did you find this deal and how did you negotiate it?

Wholesaler

How did you finance this deal?

Loan

How did you add value to the deal?

Rent
2


Income  Unit 1: $900  Unit 2: $900  Unit 3: $900  Unit 4: $800  Shed: $50  Total Per Month: $3,550  Total Per Year: $ 42,600 Expenses  Property tax: $2,700  Insurance: $1,200  Repairs: $2,700  Management Fee: 8% = $3,408  New tenant every 2 years: $1,775  Vacancy: 4% = $1,704  Total per month: $1,123  Total per year: $14,610


Yearly Profit: $29,339

Return: 17.8% before taxes

What was the outcome?

Contractors: $37,214 Insurance: $600 Job Supplies: $12,968 Utilities: $1,104.02 Total cost of renovation: $51,886.18 Total money spent on project: $164,886 Estimated House Value: $200,000 Upside Equity: $35,114

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Blue Mound.

Purchase price: $86,000
Cash invested: $145,000

In August 2018 we purchased a 3/1 1077 sqft house for a total cost of $86K.  
 
We had a complete renovation that brought the house up to 4/2 and 1,700 sqft. We added a  mother in law unit that can be rented separately. Renovations were complete in Jan 2019 

How did you add value to the deal?

Rent 
Income:  
● Main house: $1,400   ● ‘Mother in law’ unit: $900   ● Shed rent: $100   ● Total per month: $2,400  ● Total per year: $28,800 
Expenses: 
● Property tax: $2,450  ● Insurance: $1,200  ● Repaires: $2,400  ● Management Fee: 8% = $1,574  ● New tennanet every 2 years: $1,200  ● Vacancy: 4% = $1,152  ● Total per month: $831  ● Total per year: $9,976 
 
Yearly Profit: $18,824 
Return: 12.6% before taxes.

What was the outcome?

Contractors: $28,388.03  Insurance: $645.65  Meals: $868.39  Job Supplies: $32,604.29  Travel: $70.00  Utilities:​ $381.05  Total cost of renovation: $62,957.41 Total Money spent on project: $148,957  Estimated House Value: ​$180K  Upside Equity: ​$31,043 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Blue Mound.

Purchase price: $86,000
Cash invested: $145,000

In August 2018 we purchased a 3/1 1077 sqft house for a total cost of $86K.  
 
We had a complete renovation that brought the house up to 4/2 and 1,700 sqft. We added a  mother in law unit that can be rented separately. Renovations were complete in Jan 2019 

What was the outcome?

Contractors: $28,388.03  Insurance: $645.65  Meals: $868.39  Job Supplies: $32,604.29  Travel: $70.00  Utilities:​ $381.05  Total cost of renovation: $62,957.41 Total Money spent on project: $148,957  Estimated House Value: ​$180K  Upside Equity: ​$31,043 

Rent 
Income:  
● Main house: $1,400   ● ‘Mother in law’ unit: $900   ● Shed rent: $100   ● Total per month: $2,400  ● Total per year: $28,800 
Expenses: 
● Property tax: $2,450  ● Insurance: $1,200  ● Repaires: $2,400  ● Management Fee: 8%

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $475,000
Cash invested: $20,000

In May 2017 we purchased a 3/. 1,100 sqft house for a total cost of $485,000 with a $339,500 Mortgage at 5.25% Interest.
We did minor renovations inside the house, and we rented the converted garage as a in law unit. Bringing it to a total of 4/2.

What made you interested in investing in this type of deal?

I got fired from a business i was running for the past 5 years

How did you find this deal and how did you negotiate it?

Through Zillow, with realtors

How did you finance this deal?

Bank of the internet who than changed to Axos bank

What was the outcome?

Total cost of renovation:: $7,933 Total money spent on project: $154,433 Sales House Value: $600,000 Selling fees: 5%= $30,000 Total capital gain: $76,067 Cash on cash: 50%

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $475,000
Cash invested: $20,000