All Forum Posts by: Trent Stone

If it's owner occupied for 2 years they could qualify for 3.5% down FHA or even 3% down with conventional. Interest rates are at an all-time low, that would skyrocket the COC when they started renting it as an investment property. House hacking at it's best.

The numbers look a little loose, I might scrutinize them a bit more before I pull the trigger, but it could be solid.

I've analyzed hundred of deals, I'd be happy to look at some with you. After the first couple dozen or so you can start cranking through them quick. I screen deals first, then if I think it has potential I ask my Realtor his thoughts and anything else I should know about the area or property. If he likes it then I send it to my business coach(Fellow investor). If everyone likes it, I get my contractor to walk it and give me an SOW, then I'll throw it to a lender to make sure their numbers line up with mine.

I HIGHLY recommend the BP calculators, they are the most straight forward and best I've seen. I used to use excel but I got way too deep and nerdy with the numbers. Watch Brandon's webinars about how to use the calc and just go nuts with it lol.

So, my first thought is something is wrong with it unless it's in a war zone, your cap rate should be closer to 6% right now in the DFW area (maybe 7% if you are lucky and found a great deal). With the NOI you provided, your purchase price should be closer to $350,000. 21,418/.06 = $357,000.

Get an inspection, make sure you don't need any major repairs and scrutinize the rent roll. I'd ask for the sellers disclosures before you sign anything and make sure you include an inspection period if you need to back out so you don't lose your EM deposit. 

Let me know if you need anymore help, good luck!!

Yeah, if this is an investment property you should realistically expect to put down at least 25%. So, if you put down $75,000 your COC will be pretty low.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

We are currently looking for a money partner for 1620 Fletcher Ave Indianapolis, IN, 46203. We have the property under contract for $160,000 and plan to spend $50,000 on the renovation for a total of $210,000, not including financing costs. The property was renovated in 2016 and we expect the repairs to be somewhat minimal. Our contractor will give us a scope of work next week and we will update our rehab budget accordingly. After repair value is estimated to be at $300,000, after holding costs our target profit is $69,814 and a turn-around time of 90 days. This deal is located right next to the exploding neighborhood of Fountain Square. Rehabs and new builds around our subject property have been sold between $350,000-$450,000. This deal has huge potential to sell for over $300,000. We have provided investment options for this project below. Investment report and sample JV agreement can be sent on request.

Option A: $20,000 and qualify for an investment loan to fund the purchase and rehab. $8,000 return after repayment of principal or a %20 equity share, whichever is greater.

Option B: Fund the entire estimated $210,000 project cost at %12 annualized interest and 2 points paid at closing.

If you have any questions please contact Melissa at 801-159-0519 or Trent at 760-977-0777. Let us know which option suits your investment preference and we will send a finalized JV agreement for signature.

Best Regards,

--

Trent Stone

760-977-0777

stoneproperties.org

Me and my partner got stranded and we are closing on Tuesday. Please let me know if you or someone you know has money to close. We will do whatever we have to do to get this deal done, partnership, loan, wholesale, etc. Contact me for the PA, SOW, closing docs from title, CMA, investor packet etc. Thanks!!

Shere, please contact me. Thanks!!

 Let's do it... This weekend works for me or maybe any time Tuesday. Let me know.

@Jonathan Escobar is there a meeting this Wednesday then?