All Forum Posts by: Telless Cade

For flat fee property management contact me today. No contract, no termination fees and best of all our unprecedented tenant warranty. Call 469-208-4298 to set up a no obligation Rental Analysis for your property.

ARV - $442,000

Price - $270,000

Repairs - $85,000

Pros

Potential Investor Concerns

Nice Condo/Townhome in Lake Highlands, Richardson ISD. Quiet area and well maintained complex. Currently tenanted at 1050 to March 2018 however per the current property manager tenant can be given notice to vacate due to condition. (pet damage). Comps are very straightforward. One sold for 120K, very basic and one sold for 132,500 updated. 10k in rehab will definitely get us to the 125K ARV.

Market rents are 1200 but keep in mind the HOA fee is 301 a mth.

Cost: 92,000

Rehab 10,000

Arv 125,000

ARV: 510,000                     Sqft: 2906

Investor Cost: 365,000    Baths: 3.1

Pros:

- Low DOM
- ALL major mechanicals are done and passed inspection.

- New roof, fence, and condenser

- Richardson ISD

Potential Investor Concerns:

- Sides to Coit (discounted ARV for it)

Notes: Awesome OFF MARKET flip in the Spring Creek subdivision. City of Dallas but Richardson ISD. The market here is hot with most houses selling under under 15 days. Updated homes in this area are selling up to $208/sqft, I have priced this home conservatively at $175/sqft to compensate for the fact that we side to Coit. All major mechanical issues have been addressed, all that is left is putting the house back together. Call 214-974-8882. THIS PROPERTY MUST GO!

I am putting together information on 16 unit apartment complex in East Texas. This is a little outside our standard opportunities but I know everyone is interested in a small apartments. Here is your opportunity.

Asking $500,000

Gross Rent: $73,140/ year  

Property management cost is approx. 10% of the income. 

Landlord pays water and cable which is roughly $650/month.

Annual expenses are roughly $21k.
Annual income roughly $72k based on 93% occupancy.

That's 15 of the 16 units occupied which is currently the occupancy.

Call 214-974-8882 for more information.

ARV - $250,000
Rental Rate - $1,700 p/mo
Rehab - $26,000
Sell - $199,500

Great 3/2/2 Brick property built in 1984 in Frisco 2 blocks of Main St. Historic Downtown Frisco.

Dealers choice on this deal but I firmly believe the best approach is to fully renovate with everything in the rehab breakdown to make this a very nice rental property that is ready to perform for the next 5 - 10 years. Get top end rent and keep a quality tenant. The forecast for Frisco appreciation and redevelopment in this area is very strong. Should be continued increase in scrape and new builds within this area and property is situated nicely on a corner lot. Pretty rare for a 3/2/2 brick in this area to be available under $200K so great opportunity to add to or start a strong rental portfolio in a great area.

Call 214-974-8882 for a showing.

 It is a 4/2 2455 sqft brick ranch with a very nicely done 2 car garage, and newer pool. While it does have a converted garage, the carport is covered with a door--so it still has a very functional and protected parking area, with the benefit of added square footage in a neighborhood which garners up to $169/sqft. I priced this one at $138/sqft due to its larger size and discount for lack of garage, though the price would be about the same if you reconverted back to a 4/2/2 2035 sqft house.

Rehab: good news--the roof will be replaced in an insurance claim (I had roof replace in the budget), and the pool and equipment are 8 years old (pool equipment hasn't been run in 6 months or so, but it all functions properly), so we are looking at some foundation and interior cosmetics! For flooring, to save a good chunk of change, I would do the PVC board, which looks great and is waterproof--Ideal Flooring will install it for $3.75/sqft!

Pros:
- Central Plano--great schools, low DOM!
- Newer pool--nothing to do but drain/clean
- Good size for the neighborhood
- Versatile floorplan

Cons:
- Converted garage--many in this neighborhood have a converted garage with a covered carport
- Galley kitchen--nothing you can really do about it, but it is common in this neighborhood.

Price: $254,000
Rehab: $37,000
ARV: $339,000

Call 214-974-8882 for a showing!

ARV: 275k
Cost: 125k
Rehab: 86k

Great flip in Hot Area! Eclectic neighborhood that is already transitioning and gentrifying. Very low days on market for resale! A lot of rehab, flips going on down in this neighborhood. Strong comps to prove ARV. I left no stone unturned for the estimation of rehab. Top to bottom, I threw everything at the rehab to make sure there is nothing missed. Sits as a 78% on the dollar deal, so even if rehab goes to $100k, you are still at 81% on the dollar. Call 214-974-8882 for information.

ARV: $289,000
Rehab: $15,000
Cost: $228,000

ARV - $119,900
Rehab - $17,500
Sell - $81,000
Monthly Rental Rate - $1,195

Solid brick property in Dallas. Property has attached 1 car garage. Larger floorplan than most properties in the area, has really large 2nd living area. Pier and Beam foundation in good condition, see no issues. Pretty straight forward cosmetics needed with updated electrical. This would be a great Rental Hold Property with good up front cash flow and appreciation potential looks to be strong. Sits on a nice corner lot. Up and coming area with good rents.

3831 Summitt Ridge was the only true fully renovated sold comp. That was an investor buy and rehab that sold for $140K at $101 per foot with FHA financing in under 30 days. Our property is larger than that but shooting for a much lower price per square foot and overall lower ARV. Its a really good flip comp but the only recently fully renovated comp on the market.

Let me know if you have any questions and call 214-974-8882 for showing access.