They did sent the following description, also through Facebook Messenger (direct copy and paste):"Description of the project :Located in the heart of a huge garden, the Pullman Marrakech Palmeraie Resort and Spa spreads its 252 luxurious rooms where French elegance combines with the oriental style.

A gardener who's wife is a house cleaner went to flea market talked to the street loan persons with $150K stated (gardener) income getting rentals.

A freshly remodeled home haha.

The vision of a freshly updated home is so seductive, it's easy to forget that the project will most likely come with aggravating delays and unexpected issues.

Install fresh drywall (where it makes sense) and repaint a nice white color.

I'm fresh off finishing "crushing it in apartments and commercial real estate" by Brian Murray and this show really resonated! 

It may be worth just starting a new LLC fresh. 

My focus is on BRRRR/Buy & Hold in the outskirts of the Orlando Metro Area - specifically Clermont, Winter Garden, Apopka, Tavares, Eustis, and Leesburg.

Purchase price $ 510,000 Purchase Closing Costs 10,200 Estimated Rehab Costs 5,000 Total Project Costs 525,200 Downpayment (36.9%) 188,000 Loan Amount 322,000 Loan Interest Rate 5.250% Total Cash Needed 203,200 Gross Rents 61,440 Monthly Rental Income 5,120 Expenses Advertising 25 Gardening 66 Insurance 250 Management Fee 512 Pest Control 50 Property Tax 638 CapExpense 512 Security System 280 Vacancy 512 Total Monthly Expenses (55.6%) 2,845 Monthly P&I 1,778 Total Cash Flow 497 Performance Metrics Monthly Cash Flow $497 Cash on Cash Return (ROI) 3.17% DSCR 1.28 Purchase Cap Rate 5.35% Proforma Cap Rate 5.20% 1% Rule 0.97%

Hello Everyone,My name is Klubo (Clue-bow). Originally from Minnesota by way of Arizona. I hail from the mortgage industry (MLO) and have been interested in Real Estate for a long time. My interests are Wholesaling an...