All Forum Posts by: TALAL PHAROAN

Help me understand how and what you needed to put that together please (progressive luncheon)

@Michael Q. What do you mean in the OLD VOICEMAIL recording by WE CAN/WILL PAY TOP DOLLAR for your home? I want to confirm that that is used to motivate the seller to leave a message as opposed to hanging up by removing the fear that they maybe LOWBALLED.

I need to have this posted deleted! This property was owned by a friend of a friend that dies recently. I knew he had a ton of politicians and officials in his pocket but I had no idea how he used it for his motel. 

Basically there is no way to move forward on this property unless you tear it down. He has nothing up to code and has never had a permit to build in 65 years. Basically I cannot renovate and if you saw the inside you wouldn't want to spend the dollars. 

a place for people with warrants and people down on their luck. To good to be true deal

Umm... I do not know how you mean. If you are going to invest, you need to know the numbers. After all, anything other than that is a gamble. So lets just help this guy fix his numbers.

If he is looking to rehab or build to spec he needs to know to determine absorption and determine what it means for whatever investing he wants to do.

what ever happened with this? I had a similar property come across my desk

Hi guys,

I have a 524,000$ INN estate sale in a B neighborhood. The building is a C/C- and it generates about 272,000$/yr GOI. Weekly and Monthly rentals

The negatives:

Roof is flat and the property is very dated

Attracts hoes (male and female)

Tough to resell without redevelopment of lot (BL Zoning)

The positives:

High cash-flow

Good location 

Attracts traveling workers

44k SQFT lot 

Common questions to answer:

What is the capital expenditures figure

Are there any service contracts in place

How is it currently managed?

Great topic! Has anyone here weighed the benefits and losses against mobile home investments and doing sales on mobile homes for payments? If I were to spend 180k cash to buy rentals in Baltimore city i could get about 6 properties and get about 700-800/mo each and GOI about 54k a year IF all are occupied.

I could also work with Fedro and other mobile home investors on controlling mobile homes and selling the via payments and not have the responsibility of repairs. I currently have the option to stay in Baltimore where where Cash Cows are plentiful or move back to Seattle where mobile homes are plentiful. Any takes?

Lesson learned: Private money lenders here will charge 12% interest on 80% of the total loan. I would need 20% upfront. They put a lien on the property to secure their debt. They also charge 5 points and the loan usually runs for 6 months.

What is GAP Insurance in this scenario with private money and fix and flips?

Will that put a second lien on the property?

Md

@tom he has thin credit. 1st time home buyer. Probably a 640 with poor income records.

@dave

So they typically fund the purchase price and not roll the rehab in like a 203k? Yes it is his first rehab. He said something like he received 200k from inheritance.