All Forum Posts by: Peter Grosso

I just bought my wife and my daughter health insurance on the NY Health Exchange from the new Healthcare Law.   The prices were pretty reasonable.  

Yes, my apologies.   

  - Where are the properties located?

The properties are throughout Detroit, MI.  They range from 10 Bedroom, 6000SQFT houses to 3 bedroom bungalows at 1100 SQFT.    

- What are the numbers on the specific properties?

    There are 44 of them, I have an investor packet that explains all of those details in about 5 pages of  the packet.  

- How is the loan secured?

    It can be secured by both a Personal Guarantee by the CEO, and by the properties themselves.  

- What is your investment into the deal personally?

I am part of the project management team.  I also personally own 25 of my own Properties in this area, so I do have a vested interest in the Market.  

Properties are already owned, we are seeking $475,000 in as little as $25,000 increments.  This is sort of a "Waterfall" investment.   The $475,000 will cover all expenses for the renovation of the the first 13 Properties.  Investors will have all their capital returned to them plus 25% ($593,750) by the end of the sale of the 13th property.    The remaining cash will be used to turn the remaining houses into turn-key properties for investors.  The investors will receive an additional 5% equity in those properties.  

The expected ROI for these investors will be 37%

Please PM me for the investor information packet, I can't seem to link it onto here. 

Ryan, I had the same problem.  So what I did was pulled out a equity loan right after I bought the house cash.   It is similar to a Equity line of credit but has fixed rates.   I could only do a 20 year loan, but after the house is "Seasoned" you can do a refi and get a 30 year loan.   

This could really help if you want to keep this pattern going,  You can pull out the equity, buy another one cash, then pull out equity from there. 

Hello All, 

So here is a difficult question,  How do Americans borrow money from German Banks?  Usually Mortgage lending is closely tied to National Government bonds.  Well the German bund(bond) is at never before seen levels because of the flight to safety in the entire Eurozone.   

So how do we take advantage of that?    

Well I can say that if you have the opportunity to walk to Packard Plant, be careful but it is worth the walk. 

Have cash for three houses, buy one and take out a equity loan the moment after you close and buy another and repeat.  As your houses become seasoned (6 months) convert them to standard mortgages. 

Much appreciated

Packard plant was just won in an auction for about 6 million, however I understand that the clean up is so large that no one has wanted to take on that task.  The area around it has a lot of scrap yards and such.  

I don't know if anyone else has said it, but you can get a Delaware Series LLC and put many different assets into it that can be insulated from each other in one LLC.