All Forum Posts by: Alex Bock

@Elijah Grant

I have a wholesale deal under contract offering a 14.65% Cash on cash return in Davenport, IA. 100% occupancy and will likely remain as such due to the high rental demand in the Quad Cities. It is a fully occupied Triplex priced $15,000 below value! Current management can be kept in place at only 5% of monthly rents and is figured in the CCR%.

Hi @Meghan McCallum! On this deal, the first of the buildings were built in 1880 so the mechanicals have been consistently updated throughout it's lifetime. The roofs are brand new, rent roll is $56,000/YR making for an average rent of $467 per unit. The apartment rents have the potential to be $525/mo, making for an additional monthly income of over $600 a month after figuring in the SFH. Please email or PM me if you would like further information! [email protected]

ARV is assuming the units were remodeled and rent is maxed out. The units are in good shape right now, but have the potential to be updated and rents raised.

Iowa is well known for it's "Fields of Opportunities'', and this deal is no different. This property boasts returns of 19+%! This in addition to the lowest available property management rate you're going to find in the area (3%, And YES you read that right) makes for the picture perfect passive income vehicle. The property includes a 9 unit apartment building and a 2 bedroom sfh on the same lot. The buildings are in good shape and are fully rented. All utilities with the exception of water, sewer and trash are separately metered in the apartments. Gross rents for this property are $4670 a month! After approximately $1700 in monthly expenses, this leaves almost $3,000 a month in cash flow. The seller and would be property manager has many more single family houses in Burlington he would like to sell from his portfolio and would offer the same management services on. The 2 others that could be sold in a package with this deal offer a 12% ROI. I had the opportunity to drive down to Burlington from Davenport a few weekends ago to meet with the seller. We toured several of the properties, he showed me around the town and I had a chance to talk with him for a while. He is a very hard worker and is motivated to keep his business as a contractor going in addition to continuing to serve his tenants who seem to like him a lot (I also got to talk to a few of them). I plan to continue to build a relationship with the seller and provide a steady stream of cash flowing properties as he sells his portfolio off. $185,000 takes the prize on this one. Analysis is attached, contact me today with any questions and let's get you a deal! Welcome to Iowa.

@Kyle Wright Iowa is definitely cheaper. Their properties are typically more expensive but this is a good point to consider. 

@Virgil Nethercott The reason that combining homes with data centers interests me is that if for any reason all falls down with cryptocurrency, you still have a practical building you can do something with (Rental, Flip, Airbnb, etc). When you say you have 2 groups, What do you mean exactly?

Hi Phil, sorry if that was too broad. I imagine taking houses that otherwise don't have a chance (Most on the Illinois side) and bringing them up to code to house cryptocurrency mining equipment. In addition to having your own hardware, you could rent rooms out to other miners or even airbnb guests. Since most of the properties would be practically free; overhead, property tax and renovations would be the only expenses.

Hello!

I'm trying to drum up this conversation as I have only seen limited info on it on BP and I feel like I have a good idea. I am making my start in investing as a whole in the Quad Cities. For those of you familiar with the area, you know there is a ton of potential here! There are multi-million dollar homes here and there are homes on the Illinois side that are literally free if you pay the back property taxes. My vision entails improving my community, building multiple streams of passive income and incorporating an ever growing technology that I strongly believe is going nowhere but up. If you've heard of or kept track of Bitcoin (Or other cryptocurrencies) lately, you know what I am talking about. I am interested in networking with investors from all over the place that are interested in high returns on lower (In comparison) investments. Your investment could be as simple as buying a cheap server that we manage for your own passive income, or buying an entire facility that can be rented to other miners with little upkeep. Maybe you even want to do an Airbnb/server hybrid house! The possibilities are tremendous. I currently work in IT and want to take some of my roots with me before I jump head first into real estate. I can't help but feel like a young Josh Dorkin! :)

What we need help with:

Mining hardware

Property purchases

Renovation

Utilities

Development

There is absolutely no way this can all be done by one person. If you hold the key to any part of this equation, I want to hear from you! If you're unfamiliar with cryptocurrency mining, I would highly suggest looking into it. I would also suggest looking at the facts and not the trash that CNBC, Fox, and all the other major networks that are in bed with Goldman Sachs have to say about it! The fact that cryptocurrency has the redundancy and potential to take the big banks and governments out of the equation has them grasping at straws. Let the games begin!

These guys are pretty reputable. I've been told they're also on the expensive side as the silver lining.
https://www.facebook.com/ArkSafe/?ref=br_rs

@Michael Pease