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8 April 2018 | 2 replies
I cannot purchase the property myself as I do not have the funds for it.However, I have found an investor whom I’ve showed the property to and is interested but needs to get inside for the contractor to give a repair estimation to get actuals.How do I set this deal up so that I can ensure I make money as the finder?
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8 April 2018 | 2 replies
The picture isn't too clear, but be sure you don't have entry repair costs.Congratulations!
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6 April 2018 | 8 replies
Here's what it looks like:Purchase price = $300kRental income = 4 x 1bd/1ba @ $500 , 2 x 2bd/1ba @ $650 = $3300, seller thinks 1bd's can go up to $700 and market research supports that Taxes = $200/monthEstimated expenses = 1300/month (10% each for vacancy, CAPEX, and repairs and $200/month for insurance)NOI = $23k at lower rents, $33k at higher rentsCash flow = $500 at lower rents, $1300 at high rentsThe property is in a C neighborhood that is gentrifying.
5 April 2018 | 0 replies
The house is almost in foreclosure. it will be auctioned on June 5th. so i need to act swiftly.The owner owes 96k on the house, which is the Principal amount, but when i told her to call her bank for total loan payoff on the house. it was 105k.The house is ARV is worth 168k. doesn't need much repairs at all. about 5k repairs.do i have to factor in the total payoff, or just the pricipal owed on the house which is 96k?
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1 January 2019 | 3 replies
The property is updated so no repairs needed.
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17 April 2018 | 6 replies
Everything should be negotiated and agreed upon.I am curious if anyone have experience that aligns with these numbers:15% - deal finders fee30% - signing the debt30% - for equity (down payment money)5% - tenant and property management oversight5% - getting financing for processing paperwork and managing lender5% - managing accountant5% - construction/repair management5% - designThanks...
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12 April 2018 | 8 replies
What about general repairs and maintenance?
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7 April 2018 | 8 replies
The other camp of investors puts off maintenance for as long as possible and essentially bleeds a property dry and may have trouble selling at the end because so many repairs have been deferred.
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6 April 2018 | 5 replies
Yes, I always assume that the purchase price (or the ARV if you are making significant repairs) will be the assessed value.
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9 May 2018 | 3 replies
Purchase price possiblity - $80,000ARV - $150,000.70 = 105,000- $30,000 in repairs= 75,000 Rental income would be about $1000.