All Forum Posts by: John Sherron

Quick question, is anyone familiar with John D. Bayer or Kevin McNeill? Both are private lenders. Can anyone give me some good general questions to ask when screening private lenders so I can make sure they are legit. Thanks in advance!

Hey Mike, from the comps I found the houses were about $13K less than there appraisal.

Hey Neil, I need some comps for 3 properties im interested in. Let me know if you can help and ill send you the addresses. Thanks.

Hey Robert, thanks for getting back. I just consulted a realtor to run comps and get the low down on each property and I can go from there. I agree, negotiating the asking price down is the best bet. How did u come up with that number $113K, just curious?

I know this is a pretty broad question, but since this is a new process for me can I ask how would you guys go about this deal? With private money or Conventional?

3- SFR Owners moved out of state and looking to sell.

2- Properties Rehabbed in 1/2016

1- Bought turnkey in 12/2015

2- Leases good for a year

1- Lease ends 8/2017

$150K Purchase Price

1- 3/1.5 1220sq Comps show @ $66K Rents for $875 (Work needed- $2K)

2- 3/1 1730sq Comps show @ $55K Rents for $850 (Work needed- $2K)

3- 4/2 1670sq Comps show @ $71K Rents for $850 (Work needed- $2K)

Total Value according to Comps- $192K

NOI- 1896.93

Actually Cody, its 3 seperate SFR.

Trevor, I grew up in this neighborhood, its not a terrible neighborhood, but I honestly dont see much improvement in the area. Nor do I see any appreciation as of late. I know this is a hot rental area and houses rent pretty quickly so thats a bonus. The problem is I currently live in another state so im limited to what i can do. The comps I found on the 3 properties total seem to be about $13K lower than the sellers stated. So in your honest opinion judging from the numbers, what would you think would be the best strategy going about this? Deal or No Deal?

Chibuzor Im on my way to checking that source, thanks alot. Very helpful everyone!

Good stuff Chris, thanks alot for the info!

Diogo, im going to check that out right now. Thanks!

If I want to pull good strong comps whats the place to find them?