All Forum Posts by: Ryan Rodgers

ARV for the homes are 50k. I own 3 properties on this street already. Have a pretty good feel for my farm area. My main question is regarding structuring the contract.

Sent you a PM Braden.

Hello everyone..looking for some guidance for this possible opportunity.

There is a landlord in my area who is burnt out and selling her 4 properties. I would like to approach her with possible owner financing but want to make sure I approach her correctly before doing so. I guess the first question is..

Do I have to have a different contract for each property or can I put all 4 properties on the same contract?

Here are the numbers:

The most I'll pay for each home is 25k. (100k total)

Each home will need about 10k in rehab max. (0% credit card will pay when refinanced)

Looking for a 10 yr term at 8% with a $5,000 down payment (Financing 95k). Monthly note would be roughly $1200.

Each home rents for a min of $700. ($2800)

Minus tax, ins, 10% CapEx, and 10% Vacancy left with around 700 cash flow.

Are these numbers feasible? My ROI is looking huge but I'm not sure if I have something wrong here.

Hello everyone..looking for some guidance for this possible opportunity.

There is a landlord in my area who is burnt out and selling her 4 properties. I would like to approach her with possible owner financing  but want to make sure I approach her correctly before doing so. I guess the first question is..

Do I have to have a different contract for each property or can I put all 4 properties on the same contract?

Here are the numbers:

The most I'll pay for each home is 25k. (100k total)

Each home will need about 10k in rehab max. (0% credit card will pay when refinanced)

Looking for a 10 yr term at 8% with a $5,000 down payment (Financing 95k). Monthly note would be roughly $1200.

Each home rents for a min of $700. ($2800)

Minus tax, ins, 10% CapEx, and 10% Vacancy left with around 700 cash flow.

Are these numbers feasible? My ROI is looking huge but I'm not sure if I have something wrong here.

Shannon, 
Who did you end up going with in the end? Allstate is killing my profits as well and I'm looking to switch over as well.

If it doesn't work with that plumber, I know of one in Metairie that may be able to help. Also, have you heard of Thumbtack? It's a website where you put work out there and get quotes and bids for the work from people in the area. If you know a good electrician, can you send them my way?

Only had 10k in it so a loan wouldn't have helped. I read the book about Tax Strategies through bp AFTER I already cashed out the 401k and was hit with the 10% penalty. Turns out i could have rolled it over into a Self-Directed SoloK and used the funds to invest without penalty. ....growing and learning pains.

Hows the rehab coming along?

Hello all,

I'm searching for a licensed electrician to bring my property up to code. I just purchased a rehab and the box is in shambles. Also, I am in need of a painter/laborer to prep the exterior wood siding for paint. Scrape/sand....to where all I have to do is spray. If anyone has any leads in the area please let me know!

Hello all,

I'm searching for a licensed electrician to bring my property up to code. I just purchased a rehab and the box is in shambles. Also, I am in need of a painter/laborer to prep the exterior wood siding for paint. Scrape/sand....to where all I have to do is spray. If anyone has any leads in the area please let me know!