Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

We've had zero phone calls answered or returned, multiple promises or calls "tomorrow" to talk through issues unmetAt this point we've hired another PM (Sadly MidSouth Homebuyers, whom we have other properties with and have had nothing but excellent experience, wouldn't manage this location) who is now going through re-keying the property and assessing the state of the rehab.This was a test property for us, so we learned what we wanted to learn on this transaction.

Hey Kenny no it's more out the money to work and if needed get personally involved right right now have 3 clients I helped raised 175k in 0% interest business funding with 12 months 0 apr and they want to get going in real estate and make modest returns not shooting for home runs 

It's not super amazing returns, but at the same time - it seems like a fairly low risk investment with Ann Arbor's large student body and continued demand for off campus living. 

We talked about an aggressive paydown at a rate of $5k for the next 6 months to make the deal sweeter for the next person, but renting it would be preferable to that I believe since I can get a higher return on smaller development projects at a burn rate like that. 

Just another way to diversify and get a great return at the same time.  

I have easily done this using services like Skipmatrix in the US.

Run your numbers based on youre required return given what youre likely to have to spend and the amount of headache, risk, and work you have to do.

The difference between a 12% return and a 16% return compounded over 20 years will make you sick to your stomach. 

The price of the investment and the return on capital is AMAZING!!!