All Forum Posts by: Shane Adsir

I’m trying the same thing. Va loan to brrrr to a va refinanced home. All I have to do is live in it for the 212 days I can turn it into a rental then start new. Showing how we can pay of both houses mortgage with the renter is all that’s needed and alittle tlc for the house 

Wondering what the rules are for. I am wanting to house hack a four bedroom, while I go to graduate school. Wanna get my feet wet in real estate.

What are the particulars in Seminole/ Orange County FL. The school is in both counties I believe.

Can each room have its own locks for example?

,Shane

Thank you Barry. I would want to learn and earn like you said. He will not release his financials until I have financing. 

I stated though that I have the tax documents, and the city proposal for the area. As of just 15 minutes ago the business development and housing development official for the City of Orlando called me to see if we could meet to discuss what incentive they would offer to help with the project as these properties are involved. They do not do financing but she said they do everything else to included performance based incentives. I told her I did not have financing and I would need to contact her back when I found some. 

My qualifications? I am not an idiot. I have a masters degree, I am a veteran, and my cousin is a general contractor who owns his own stone business that does 1 million in revenue in Orlando. Personally I make about 13k a month I am only 32. I would like to make 1 million a month. I am very good with numbers and data. I get **** done. 

orlando fl. We actually need someone else to help us. I cannot get financing without the help of a much latger investor.

correct me if I am wrong, but rent value is 12 months of rent / home price. Even 600,000/ 8,900,000 = 7%. The suggested retail sale is 6.4 like I stated and with the empty lots taken out (maybe I could give them to the city as a tax right off) which was actually listed as worth 400k. that is 600000/6000000=.10 or 10%

Also there are a sizable number of EMPTY LOTS with value but no rent that you are probably not aware of. 8 to be exact so take out about 800,000 off the 6.4 million

It is a low rent area. high renters to owners.

What do you mean 0.8% rent? The worth is 8.9 million, the suggested sale price they have listed is 6.4 million. The properties are probably worth more than 8.9 considering the investment by the state.

I am a small fry who has stumbled into a big deal for me, life changing. I cannot finance it on my own though. I make good money but this is company /firm size deal.

90 units on 53 properties in foreclosure due to a sudden rise in property value that made the property management company not be able to cover the tax liability. 50k a month revenue worth 8.9 million supposedly, but listed for 6.4 million.

The catch? The state just paid 1 billion to revitalize the area, hence the property value increase. There are a lot more particulars going on here that require professional help. I would love to make huge first step into a profitable investment like this. Even if its only a small % of the total with this kind of money I would be making a lot.

I just need some help. The owner will not release financials until I am backed by a lender or financed in some way. They claim it is a 100% occupancy rate and all 90 units are fully leased. I am inclined to believe him because it is one of the cheapest places in the city. I wouldn't even think of this as an investment if it weren't for the cities plans.

So someone help me with a step by step plan on how to make this happen with any avenue?

How do I finance something in any capacity when it is out of my league but so ripe I cannot stop talking about this? the deal is listed at 6.4 million for 90 units in foreclosure.