4 August 2020 | 3 replies
I would appreciate if anyone who dealing or dealt with larger scale projects will advise me on this one.Now to the facts:Property type: ChurchProperty cost: $200k Development costs: $2.1M Number of units: 24 Average rent income per unit: $2,000Estimated total investment costs (including unforseen situations security): $2.8MEstimated annual total income: $576,000Estimated annual expenses + vacancy loss: $176,000Estimated net annual income:$400,000Estimated net ROI:14.28%Estimated time to end project:2 years ***The Property is located on a prime location in WB, PA***There are different sources of funding that I'll have to use for this project, which I guess it'll have to be a cash investor funding combined with banks / lenders money, so obviously I wont be a 100% shareholder.
3 August 2020 | 5 replies
For example, if you sell a relinquished property for $1.0 million with $600K in debt and $400K in equity you would need to acquire one or more replacement properties with a total purchase price of at least $1.0 million, reinvest all of your $400K in equity and then either obtain a new loan for $600K or put out of pocket cash into the transaction (or a combination of the two).
3 August 2020 | 10 replies
More then likely setting aside the combined 14% for repairs is going to be overkill but its better to have it right in the beginning.
6 August 2020 | 5 replies
After that we’ll be taking in 130k/year combined and the only over head we have is our condo. 15 year mortgage, 5 year fixed rate 143k financed through the bank.
3 August 2020 | 2 replies
I would not be able to rent the "new" 3 bed 2 bath until I find a new tenant, from the current tenants of the 2 bed 1 bath, to fill those two combined spaces.
5 August 2020 | 2 replies
Sharp contractions in personal consumption, exports, inventories, investment, and spending by state and local governments, converged to bring down GDP, which is the combined tally of all goods and services produced by our economy during the quarter.
9 August 2020 | 2 replies
Likely this will either be your own cash, private money, seller financing or a combination.
5 August 2020 | 2 replies
If you were to use 5-10% instead of 15% combined that may lead to purchase a property that you would otherwise pass on.
10 August 2020 | 3 replies
Does anyone have a good company that will develop my website and help me get leads organically through SEO?
4 August 2020 | 2 replies
If you don't have enough Solo 401k funds to purchase the property as an all-cash deal, you can combine your Solo 401k funds with non-recourse debt to purchase the investment property.