All Forum Posts by: Stephen Salerno

Plano Texas 75023

ARV $245,000

Investor Cost $118,000 (Cash or Hard Money Only)

Rehab Estimate $83,000

Heated Square Footage 2331 Bedrooms 4 Bathrooms 2

Great opportunity with this fire damaged house in central Plano. This area has very low days on market for renovated house. This house will need everything. I have a third party General Contractors bid to repair the property. If you are not scared of a large project then this is the house for you.

Contact Stephen Salerno at 214 793 1246 for more information and showings.

Four Single Family Houses for Sell.

Investor Cost: $486,000

Must sell as a package. Cash or Hard Money Only.

Duncanville 75116: ARV $150,000 Current Rent $1,595 / month

2700 sqft 4 bedroom 2.5 bath 0 garage(enclosed for living space)

Irving 75062: ARV $140,000 Current Rent $1,495 / month

1900 Sqft 4 bedroom 2 bath 2 Car Garage( 1/2 is converted for storage) 2 car carport (built into roof line)

Grand Prairie 75050: ARV $175,000 Current Rent $ 1,595/ month

2,253 Sqft 4 bedroom 2.5 bathroom 2 Car Garage

The Colony 75056: ARV $129,000 Current Rent $1,395/ month

1,335 sq ft 3 bedroom 2 bath 2 car garage

Total ARV: $594,000 Total Rent $ 6,080/ month

For more information and showings contact Stephen Salerno 214-793-1246 or by email [email protected]

Yes, you are correct. I had a typo. The sells price is 205k.

NetWorth Realty

Fort Worth – 76107

ARV: $339,000

Investor Cost: $209,000 (Cash or hard money only)

Rehab Estimate: $60,000

Estimated Gross Profit: $74,000

Square Feet: 2180

Bedrooms: 3

Bathrooms: 2

Great opportunity in Fort Worth! The square footage is with an additional 500 feet added for a master suite. The current third bedroom upstairs can be turned into a home office or bonus room. The home does side to Camp Bowie but does not sit right on it. Hillcrest is one of the most desirable west Fort Worth neighborhoods.

Call Stephen for more information and showings!

Stephen Salerno

Sales Associate

214.793.1246

REA 624451

Dallas-75240 Richardson ISD

ARV-$294,000 Rehab $50,000 Investor Cost $185,000

Cash or Hard Money ONLY

Square footage- 2610 Bedrooms 4 Bathrooms 2.1

The scope of work consist of converting the garage back into a 2 car garage. Kitchen cabinets are not in bad shape but I went ahead a budget to gut it and do all new. There a a couple different options as for the layout since the two bedroom upstairs are over sized and could re-arrange to fit a third bedroom upstairs and use the the 2 bedrooms that are down stairs as your master bedroom suite. The ac works but the exterior unit is older so I budgeted to replace it. The landscaping budget is for the backyard since there is no grass since they just filled in the pool. I should have a bid tomorrow for a GC, so below I provided my breakdown and what I budgeted for. If you have any other questions let me know.

Rehab Breakdown:

Kitchen$7,000

Baths$5,000

Paint$3,500

Floors$9,500

HVAC$4,500

Foundation$5,000

Garage$1,500

Windows$4,500

Exterior$2,000

Landscaping$2,500

Doors$1,500

Re-arrange layout $2,000

Miscellaneous$1,500

Call Stephen for more information and showings 214 793 1246

Net Worth Realty

Dallas – 75215

ARV: $150,000

Investor Cost: $125,000 (Cash or hard money only)

Rehab Estimate: $3,500

Estimated Gross Profit: $21,000

Square Feet: 1632

Bedrooms: 7

Bathrooms: 7

Great opportunity in Dallas! 7 units in total, 5 one bedrooms 2 efficiency units. This 7-plex has had the majority of work completed. Each unit just needs a window A/C unit. Landlord should pay all utilities and you will get $595 for the one bedrooms and $495 for the efficiency.

Cap Rate Analysis:

Gross yearly Rent: $47,580

MGMT 10% $4,758

Insurance: $3,000

Vacancy: $4,200

Maintenance: $4,200

Total expenses: $16,158

Net Operating Income: $31,422

Gross investment $135,000

ROI 23.6%

Call Stephen for more information and showings!

Net Worth Realty

Stephen Salerno

214-793-1246

[email protected]

5057 Keller Springs Rd. Addison TX

License # 624451

In Dallas, I would not be too concerned with foundation repair. I would say 85% of properties I see need some level of foundation repair. A good strong transferable warranty and an engineers report are critical. Those will get the end buyer feeling warm and fuzzy.

Actually getting that company to honor that warranty in a timely manner, that is a different story.

I will agree with Simon here. I am a Wholeseller and that is one of the avenues I uses to get properties. I do nothing else but look for deals. I am not saying you will not beat me out on some deals but as I said this all do. I maybe bias but I say embrace the Wholeseller.

@Don Konipol I got it sold this afternoon for my asking price of $260,000.

The factor of just capturing instant cash flow with very little effort was a the deciding factor for this investor.

The fact that these properties do no need any work and are fully tenanted will garner a higher price in my opinion.