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All Forum Posts by: Virgilio Mateo

Virgilio Mateo has started 12 posts and replied 23 times.

Post: Oakland - Dimond District - Off-Market Deal

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Address: 3229 MacArthur Blvd. Oakland, CA 94602

Objective: VM Estates is looking to assign equitable interest for the property stated above

Purchase Price: $580,000

ARV: $750,000+ (Click the link for Comparable properties —> Comps -3229 MacArthur)

Estimated Gross Profit Margin: $170,000 

EMD: $15K

Inspection Reports: approx. delivery of all reports is Thursday January 26, 2023 (request for the expedited delivery of the reports has been relayed to the vendor HomeGuard (https://homeguard.com/)

  • Home & Pest: scheduled for Monday Jan 23, 2023
  • Sewer: scheduled for Tuesday Jan 24, 2023
  • Est. Report Delivery Date: Jan 26, 2023


Tenant: Month to Month: currently paying $2,200/mo. Willing to stay or vacate.

Below is the link to the Investor Packet. 

Investor Packet - 3229 MacArthur

Message me for questions or if you're interested. 

Post: Contractors in Pittsburgh PA

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hi BP fam, 

I'm looking to do my first BRRRR deal in Pittsburgh PA and I'm looking for contractors in the area. Have any recommendations?

Hi BP, 

My name is Virgil and I'm looking to do my first out of state BRRRR deal in Pittsburgh, PA. I'm from California. I have been a property manager in San Francisco for about 7 years now and I'm looking to use the knowledge and skills I have acquired throughout my career and apply them with investing.

I already have a lender in the PA area that will finance 100% of any of my deals just as long as the purchase price is at most 75% of the LTV. I'm looking for a partner who is down to start or grow their portfolio. Anyone from Cali looking to do deals in PA or anyone from PA looking to do deals in Pittsburgh?

Post: My First CA Syndication

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hi BP Community, 

I'm going to do my first syndication in Sacramento. Does anyone have any referrals for a California lender that specializes in multifamily? 

Post: Looking for a wholesaler friendly title company

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hey BP community, 

Do you guys have any suggestions for a wholesaler friendly title company in Sacramento? 

Post: Off Market South LA

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Is this an off-market property? I would love to get more info. 

[email protected]

Post: SFH 4bed 1.5 Bath Cosmetic Flip Wholesale Deal Quincy MA

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Are you willing to do a JV wholesale deal if I bring a cash buyer to the table?

Post: Off Market Arcadia Property

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hey Adam, 

Is this property still available? 

Post: 32-UNIT APARMENT COMPLEX FOR SALE (CASH BUYER NEEDED)

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hey @Terrancedoyle, 

I emailed you all the information. Give me a call when you get the chance. Thank you for your interest. 

Post: 32-UNIT APARMENT COMPLEX FOR SALE (CASH BUYER NEEDED)

Virgilio MateoPosted
  • San Francisco, CA
  • Posts 31
  • Votes 13

Hi BP Family, 

I have a 32-Unit Apartment Complex in Moss Point, Mississippi under contract. The funding for this property fell through last minute and I am searching for a person to help finance the deal to be a 50/50 partner. The contract with the owner states the closing date is on Monday 03/05/2018. 

Property Specifics: 

Purchase Price: $616,272.42 

Current Promissory Note balance: $291,272.42 ( 6% with no balloon payment, monthly interest and principle payment is $ 3,419.43)

Current Gross Monthly Income: $7400.00 

Current Monthly Expenses: $1941.00 

Current Monthly Net Income: $5549.00 

Currently 60% occupied 

All vacant units just need cosmetic repairs to be market ready 

Manager/Handyman and Bookkeeper lives on-site (compensation is a free unit) 

Estimated Vacant Unit Rehab Costs: $20K - $30K

Property Potential: 

Raise all rents to market rate ($500.00)

$500.00 x 32 units = $16,000.00 - $1941.00 = $14,059.00

Potential Monthly Net Income: $14,059.00

Terms and Conditions of the contract: 

- Property is under contract to close on 03/05/2018 

- Seller will receive $325,000 in certified funds

       - Seller will receive $265,000 at closing (03/05/2018) 

       - Seller will receive the remaining $60,000 6 months after closing date 

- Seller agrees to pay for 6 more monthly note payments to the Buyer ($3,419.43/mo) 

- Seller will be released full title rights of the property

- Buyer will receive full title rights of the property

- Buyer will take over the monthly note payments 6 months after the closing date

Location: 

- Located near major cities and the gulf coast, apartments are in HUGE demand !

 New Apartment complex was just built within 5 years and is located across the street of the property

- Market Rents are $ 500 for every 1 bedroom apartment in the area

- Water can also be separately metered, there are shutoffs for every apartment

- 2 acres property has room to build a laundromat or other service amenity there

- 4 Single Story Buildings with no stairs to climb. Long Term Social Security Tenants Reside here

Let me know if you are interested. This is a homerun deal that you don't want to miss out. This is my first apartment complex under contract and since I am still brand new in real estate investing, I don't have funding to put down. I know my experience as a Property Manager and an experienced investor like you will bring this property to it's full potential.
 

Thank you for your time. I am looking forward to doing business with you.