Right now, there are 3 4-plexes in my market that can be bought as a package for around $400,000. 2 of them are brick low-rise buildings with separate utilities.

When you overnight the package do it by UPS not USPS.

I'm buying a foreclosure for $84K, ARV should be $125-$130K based on comps, maybe a little higher based on quality and condition. 3/2.5/2 1720 Sq Ft, 1988 construction.The loan package consists of a 6 month IO construction/rehab loan where they will loan me 75% of estimated ARV now, then refi into a 30 yr fixed when work is complete.The ARV is determined by the appraiser based on comps and based on a list of improvements that I intend to make.

There are some advantages to this:1) Complete control of the property2) Better Multi-family loan terms3) Attractive package to sell to a develeoper/rehaber down the road to sell back as Condos some time in the future.I'd like to hear any comments as to the pros and cons of a deal like this and any experience others have had.Thanks in advance!

When assessing the “reasonable” standard elements that need to be considered are the size of the room, fire and health codes and any other applicable city regulations.

Stan Love talked about his business model of buying land/home packages then renting them out.

You might want to send a 'package' and include background about yourself and recently completed deals.

Personally I run away from pre-packaged products and turn-key investments.

Contract Law 101No contract exists without consideration from both parties.Legal Elements of a ContractThe essential elements necessary to form a binding contract are usually described as: • An Offer• An Acceptance in strict compliance with the terms of the offer• Legal Purpose/Objective• Mutuality of Obligation – also known as the “meeting of the minds”• Consideration• Competent PartiesConsideration is an essential element of any valid contract.

Just like the police, the IRS uses some of the 8 essential elements of a crime, mental state (intent) being #1 on that list.