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All Forum Posts by: Preston Herd

Preston Herd has started 9 posts and replied 21 times.

Post: 1572 sqft Penthouse in heart of Sosua Beach!!

Preston HerdPosted
  • Posts 23
  • Votes 1

Wanting to sell my Turnkey Penthouse condo, that is managed by inhouse staff for cleaning, guest check in, etc. Discounted price, owner financing also available. Visit the link and contact me directly if interested.  https://www.coralbayrealestate...

Post: Penthouse For Sale in Dominican Republic

Preston HerdPosted
  • Posts 23
  • Votes 1

I have a property in Puerto Plata, Sosua for sale. (OWNER FINANCING AVAILABLE)  The property is privately managed so you wont have to be there at all if you plan to rent. It is also Air bnb friendly although most people like to rent here months at a time (at least my experiences) I also have it listed with an agent there but please contact me directly if interested. Please visit this link for more details. https://www.coralbayrealestate...

If you are looking to buy at a great price, here you have it! For sale recently upgraded spacious 2-bedrooms penthouse with a large terrace in the popular complex in Sosua within walking distance to the beach at a bargain price! And above all seller offers financing. It comes Furnished. Great way to get started in the real estate market in the Dominican republic!  

A spacious living area, a kitchen, two bedrooms, each has a bathroom & closet, and a large terrace with beautiful views. A/C, ceiling fans, newly refurbished kitchen cabinets, water heater. The kitchen supplies a stove, microwave, oven, and fridge. Great for a couple's getaway, small gatherings, and family events. Needs some updates to make it perfect.

Reasonable maintenance fees of $250 US include a backup generator, security, water supply, garbage disposal, ground maintenance, and cable TV. Onsite property management. Laundry. Supermarkets, restaurants, stores, banks, pharmacies, and a medical center are just nearby. Think of value! Contact me NOW!

Post: Penthouse For Sale in Dominican Republic

Preston HerdPosted
  • Posts 23
  • Votes 1

I have a property in Puerto Plata, Sosua for sale. The property is privately  managed so you wont have to be there at all if you plan to rent. It is also Air bnb friendly although most people like to rent here months at a time (at least my experiences) I also have it listed with an agent there but please contact me directly if interested. Please visit this link for more details.  https://www.coralbayrealestate...

If you are looking to buy at a great price, here you have it! For sale recently upgraded spacious 2-bedrooms penthouse with a large terrace in the popular complex in Sosua within walking distance to the beach at a bargain price! And above all seller offers financing. It comes Furnished. Great way to get started in the real estate market in the Dominican republic!

A spacious living area, a kitchen, two bedrooms, each has a bathroom & closet, and a large terrace with beautiful views. A/C, ceiling fans, newly refurbished kitchen cabinets, water heater. The kitchen supplies a stove, microwave, oven, and fridge. Great for a couple's getaway, small gatherings, and family events. Needs some updates to make it perfect.

Reasonable maintenance fees of $250 US include a backup generator, security, water supply, garbage disposal, ground maintenance, and cable TV. Onsite property management. Laundry. Supermarkets, restaurants, stores, banks, pharmacies, and a medical center are just nearby. Think of value! Contact me NOW!

Post: Rent by the room in Phoenix.

Preston HerdPosted
  • Posts 23
  • Votes 1

Hey Brad, Im also an investor and I'm  new here as well from Metro Atlanta area. And this is something I'm thinking of doing too. I see a lot of people here say look in areas near college campuses but I personally, that wouldn't be my target. I would target metro areas near public transportation. Ive fell on hard times in the past and had to resort to this lifestyle of living and it was always a line around the corner waiting for any vacancies. I merely this this style of living is for adults who are looking to get back on their feet, which are coming in by the dozens unlike the college kids who are home for the summer. Im looking to use this model for weekly rentals.

Originally posted by @Matthew Nicklin:

@Preston Herd "A good deal" is subjective. Every investor has their own risk tolerance and their own criteria on what they consider a deal. It is important to fully understand the numbers and have confidence in them. 

How confident are you in the ARV and the rent amount?

 I'm confident on both just not so much on repairs now. I should add up to 10k. It can stand to be painted and carpet cleaning.

Originally posted by @Andres A.:

If it does not need repairs, why do you have an ARV? Also make sure you have the right numbers

 Good question. It may can use paint and carpet cleaning.

Originally posted by @Joe Cassandra:

Like @Matthew Nicklin said, double check the rent amount as "nice area" "$280k value" "no repairs" and "$2100 rent" are pretty rare to find in most hot markets...not sure what market you're in. 

These are weird times, @Kevin Auyong, so if a bank was to dump it quick for cash, I guess I could see this happening as they're in a credit crunch. 

In this market, I'd probably go closer to 70% ARV as I'm guessing your comps are based on Pre-Covid numbers.

I'd also double check there are no repairs. You'll still probably need to clean it, double check all the items work and the like. Even if it looks like no repair, I'd always put a min. of $5k for any misc. I just had my roofer look at a rental I just bought hoping he'd just give me a green light (I trust him), and he found a few hundred dollars of things to tidy up including some siding falling off.

It's not a "bad" deal. In this market it's above average I'd say. Not "great" . Congrats !

 Thank you..that helps alot!!

Originally posted by @Joe Cassandra:

Like @Matthew Nicklin said, double check the rent amount as "nice area" "$280k value" "no repairs" and "$2100 rent" are pretty rare to find in most hot markets...not sure what market you're in. 

These are weird times, @Kevin Auyong, so if a bank was to dump it quick for cash, I guess I could see this happening as they're in a credit crunch. 

In this market, I'd probably go closer to 70% ARV as I'm guessing your comps are based on Pre-Covid numbers.

I'd also double check there are no repairs. You'll still probably need to clean it, double check all the items work and the like. Even if it looks like no repair, I'd always put a min. of $5k for any misc. I just had my roofer look at a rental I just bought hoping he'd just give me a green light (I trust him), and he found a few hundred dollars of things to tidy up including some siding falling off.

It's not a "bad" deal. In this market it's above average I'd say. Not "great" . Congrats !

Originally posted by @Kevin Auyong:

I'd reconfirm the numbers to make sure. My question is if it needs no work and it's truly worth $280K, why is the bank letting it go for 215K? In this market they could easily get full price.

It's in pre-forclosure, I got a send opinion from a few agents who confirmed rent amount and the ARV. Although I may need to add 5 to 10k for repairs.

Originally posted by @Matthew Nicklin:

@Preston Herd "A good deal" is subjective. Every investor has their own risk tolerance and their own criteria on what they consider a deal. It is important to fully understand the numbers and have confidence in them. 

How confident are you in the ARV and the rent amount?