My insurance company’s guy finally made it to the house a week after I closed and now they left a message asking if it’s still two addresses or one.

)                           -   Gross Monthly Operating Income              32,642.00 Monthly Operating Expenses Monthly Property Management Fees                   832.00 Repairs and Maintenance                1,000.00 Real Estate Taxes                5,241.00 Rental Property Insurance                1,959.00 Homeowners/Property Association Fees   Replacement Reserve                2,000.00 Utilities                1,291.00  - Water and Sewer    - Gas and Electricity    - Garbage    - Cable, Phone, Internet   Pest Control                   155.00 Accounting and Legal                   150.00 Advertising   Monthly Operating Expenses              12,628.00 Net Operating Income (NOI)   Total Annual Operating Income            391,704.00 Total Annual Operating Expense            151,536.00 Annual Net Operating Income            240,168.00 Capitalization Rate and Valuation   Desired Capitalization Rate 10.00% Property Valuation (Offer Price)         2,401,680.00 Actual Purchase Price         3,100,000.00 Actual Capitalization Rate 7.75% Loan Information   Down Payment            620,000.00 Loan Amount         2,320,000.00 Acquisition Costs and Loan Fees              60,000.00 Length of Mortgage (years)                          30 Annual Interest Rate 4.970% Initial Investment            680,000.00 Monthly Mortgage Payment (PI)              12,411.76 Annual Interest            114,527.10 Annual Principal              34,414.02 Total Annual Debt Service            148,941.12 Cash Flow and ROI   Total Monthly Cash Flow (before taxes)                7,602.24 Total Annual Cash Flow (before taxes)              91,226.88 Cash on Cash Return (ROI) 13.42% The property is being given to me after completing 40 year certification (updated plumbing, electrical, parking, most units are decently remodeled.

   I've been  in the construction and woodworking industries for ~25 years now, and I'm finally looking at investing into my own projects.

If you guys are partners, he can fund the money to you for you to use for your acquisitions.

@Will Ervin please share what the final outcome was for this deal.

Newbie here, trying to gather all the info I can on my new journey.  My question has to deal with foreclosures/reo properties. I know that most institutions want their money ASAP.  If I found a property that was a goo...

However, I now have a Duplex under contract in Birmingham and did the final inspection last week and I was looking to secure funding, then my current lender told me that they don't service the State of Alabama. :/ Does anyone know any smaller local or bigger banks that would offer the same type of loans?

Does anyone have experience with lenders who will lend the land acquisition and building costs?

I've worked in MF acquisitions and am now flipping houses.

I am working on my rough draft of 3D model designing of the new floor plan to be converted from singlewide trailer into 16x32 duplex houses on the same permanent trailer foundation with deck porches (just demolish entire mobile home to convert into stick-built house) and on the process of signing up my new real estate investment crowdfunding campaign (website) to be posted with my finalized proofreading content with a lot of pictures and video.