All Forum Posts by: Chad Walsworth

My background is in single family.  I am looking at a 6 unit complex that needs no rehab built in 2004....The gross rents for the property is 41,800.....

Taxes 3800 year

Insurance 2000 year

purchase price 257k

I could raise the rents without an issue to bump up gross rents to 47k.......Any advice on this deal would be helpful

If you are doing a hard money to conventional financing on a rental property and you decide to sell the property, is their a holding time required?  Could I sell the property the day after I refinance?

Focus on list with distressed built in...Tax default, divorce, code violations.....Absentee is not a distressed list

I was mailing to high equity list....it appears Rebogateway has all the list that listsource has, but the filters don't seem to be as in depth.

Does anyone have experience pulling list from Rebogateway.  List source has gotten so expensive looking for another source.  Their web site appears to be pretty simple to use and you can pull unlimited list for a yearly subscription...Right now I am mailing around 3000 mailers a month ?

I understand the formula used by most wholesalers is 70% ARV minus rehab minus your fee.......my question is when I am making an offer to the seller, for example

100,000 arv

15k repairs

10k fee

Would my offer price to the seller be 55k and then I add the 10k in when I find a buyer and sell for 65k?

I am also a member of lifestyles and at the preferred level.....I can tell you we made back our 18k membership plus some in our 1st passive deal.....You have to be willing to make the investment to see the return......

I think my problem is I'm trying to compare this to my single family properties...I almost make the same monthly income off of two single family properties with a lot less money invested?  Am I thinking logically here? 

The rents range from 600-650......That Net cash flow of 12,847 includes all expenses...including Taxes, insurance, maintenance etc......Tenant pays all utilities.....Will be self managing property.....

I am looking at my 1st multi family deal (8 units) The sales price is 430,000 with a NOI of 36k......I am figuring 5000 unit in rehab, figured into the loan amount. Net cash flow is 12,847 with a cash on cash return of 11.38%. cap rate of 8.88..... Do these seem like returns that are viable for this price property? The property is in the Dallas/Fort worth market. There is room to raise rents 50-75 month per door.