All Forum Posts by: Chaz Edwards

Hey BP Family!

So, to keep it short and sweet, I've got a property under contract in Arlington, Va. 

I got it from a tax auction list (Date set Dec 11 2018) $13k owed. Other than that it's owned free and clear by the same couple since the 80s.

It's large and 10 min from Downtown DC. Walking distance to the train, the courthouse. This is a million dollar neighborhood. My original plan was to wholesale this property, but after finding out more about the neighborhood from the locals, I want to hold on to this one. I, however, am new and have no rehab experience or credibility as a business yet since I've only been in business for less than a year. 

What I'm looking for is a willing partner that has some rehabs/rentals under their belt and is willing to lend me their credibility and possibly downpayment, in exchange for a 50/50 equity split on the refi.

I don't want to put all of the information in a post but I'm happy to discuss who I am and the numbers privately with people giving this opportunity serious consideration. Lets chat.

Thanks for reading,

Must Sell This Week

Under Contract is a 3 bedroom 3 bathroom 1,806sqft SF home in North Chesterfield.

Current Assessed Value: $164,500
Repairs: $35,000
ARV: Low End Comp: $221,000
High End Comp: $250,000
Asking: $155,300 Negotiable

This property is a Pre Foreclosure that will be sold at auction on November 19th (NEXT MONDAY)

Due the circumstances we are offering two (2) ways to buy,

1. Cash at Closing

2. Owner is willing to carry note. We would ask $25,000 cash to reinstate the mortgage.

Current Median Market Rent: $1,220

PITI: $1,020

Not a huge Cash Flow monster, but has great equity potential.

Please respond or call/text to set an appointment.

(804) 396-3864

Photos: https://drive.google.com/drive/folders/1bJKFWW91SSX_X1qCZCmwCIAVb5N3-rvg

Hey guys, I have a question about a seller I’m working with. I found a house D4$ and got in contact with the seller. 

The house is in good shape, needs A LOT of cosmetic work and some mechanical work. When I initially spoke to the seller she stated that they were upside down on the mortgage and had out about $30k into the repairs so far including HVAC, electrical, and plumbing. None of the jobs are finished. She was very forthcoming about everything. She and her husband have to find out exactly how much is left but from what she was saying it could be anywhere between $100k-$120k on this house. The ARV is about $166k it's gonna need at least another 15-20k to get it ready for at least a renter. There's obviously the possibility of not being a lot of meat on the bone especially from the aspect of wholesaling. What recommendations would you guys make as far as exit strategy for this one? (If they are indeed under water at 120k) Or is it even worth dealing with, I want to help this couple out even if I don't make a lot of money in the deal. Open to suggestions.

Hey guys, I’m sorry guys I forgot I even posted the property here. I called the owner the day after I posted and he said they went ahead and paid the taxes. Which is good news for us because it gives us a lot more time to structure our deal. I know the family and I just wanted to help them out of a house they no longer want. The owner and his two siblings are discussing what their plans are for the house and how much they would be looking to get. At that point, I will update the  purchase price and send it back out. If you want to be notified when that occurs, please leave your email or send me a message. 

Thanks, 

Chaz 

Older home in Blackstone. On entrance road to military base. Ft Pickett got approved for a $500 million dollar FASTC program, bringing 3000 permanent trainers and 10000 trainees looking for housing in the area. Here’s an opportunity to grab a property right outside of the gate. Repairs roughly $50-60k current value is about $118k arv between 150-200k. Previous tenant is also looking to move back into the house of thags an option you wanted to pursue. Personally, I would knock the house down and do  a small multi family, but it’s totally up to you. Asking is $25k we are considering all viable offers. (470) 257-2250 give me a call or shoot me a text if you’re interested and want more info. Needs to close by Friday so it’s gotta be cash this time around. Otherwise it’s going to auction. 

I’ve attempted the business credit route but my company isn’t old enough for a lot of the lines I would or have applied for and my personal credit isn’t good enough to PG it at this time. 

I’ve sent PMs give me a holler when you get a chance 

What’s up BP!

I’m still looking for a good partner that is willing to bring the down payment to the table on a couple on deals I’m working on. 

I have the financing lined up with COGO Capital already. They’ve run the numbers and as long as everything checks out at the numbers we have they’re willing to finance the deal. All I have to bring is closing cost and 10% of the purchase price. 

If someone would be willing to bring that to the table for me, I’d split the deal right down the middle. Message me or email for more details if you’re interesred. 

Thanks,

I’m currently looking at and have anazlyzed a couple of deals. 

I’m looking for a funding partner. I’m willing to split the deal 50/50 or long term financing with annual interest. 

My focus is flips and rentals of single and small multi family homes with purchase prices of 200k or less. 

You can contact me anytime by email @ [email protected] and I can send you a pdf of the deals I’m looking at now. Look forward to hearing from you. 

Thank you,

morning mr Baer. Can you email pictures of the properties 

[email protected]

Thank you.