I would like to become a hard money lender.I have the customers on both sides and a specific business model.

Financial Data – I have created more detailed spreadsheets to model this out but here is a quick overview.Price: $150,000 (thats what I would probably offer the owner)Renovation: $525,000 (units) + $75,000 (miscellaneous items)Total Cost: $750,000Pro Forma Rent: $277,200Expenses: $138,600 (estimating 50%)Net: $138,600Cap: 18.48%Obviously the above numbers would be excellent.

Sometimes a buyer makes it a condition of purchase that all leases will be dissolved and that when the buyer takes possession you will allow tenants to reapply under the new rules and terms.

Model your future presentations after the exceptional ones.

I was also under contract as well to basically buy and have to wait it out as we did not put a set close date into the contract and it was assumed that 14 days post-probate approval we would do possession and statement of adjustments.

Held og lykke i Aalborg.Jeg har selv lavet samme model i København, hvor jeg bor i et større hus med udlejning af værelser.

From my personal experience I started learning about the RAL model approx 2.5 years ago and I completed Gene's online course only. 

Using the concept of multi family and apartment complexes model, I am able to turn 2 doors into 7 doors and increase my rent and still give the tenants ease of mind as they would only have their own personal room to care for while still respecting the rules of the common shared area.    

(Shameless plug - we, Dropmodel, have a BRRR financial model coming out in a few days.) .

I have a tenant who is a guard at a local casino, always wanting to pay in cash, it took some training-he is a model tenant; but cash is too risky.