All Forum Posts by: David O.

Any luck guys? 

HI Michael, 

Were you able to close? Interested to hear your final numbers. 

Hi @Jason Alsup Welcome to BP! I am primarily focused on Greenville/ Spartanburg. My strategy consists of Buy and hold SFR and Rehabbing SFR. My goal is to do one buy and hold per month and one flip.

Have you mapped out your goals? 

Take care and let me know if I can help. 

Hello,

I am new to the rent to own space and need help understanding the returns on this deal - all detail out how I am thinking:

All in cost w/ rehab: $40,000

Sell Price: $60,000 @ 10% interest amortized over 30 years (expected holding period 36 months).

Option money: $2,000

Gross Rent: $750

Expenses (property taxes and insurance): $100

Net Income: $650

-$100 of $650 toward tenant buyers purchase.

-$550 towards rent.

-----$550 x 12 : $6,600 / $40,000 (all in price) = 16.5% cash on cash return

-----$2,000 / $40,000 = 5% / 3 years = additional 1.6% per year

-------the $20,000 expected profit 50% return on the 40k / 3 years = 16.66%

------ Where I need help is analyzing the other $100 thats going towards the loan but in reality only servicing interest.

So all in with that simple math I am at: 34.76% per year

I guess where I need some help is on that 10% on the loan would I just add that making my total return around 45% per year?

Any other thoughts, anything I am missing?

Sorry for the drawn out explanation just having trouble getting clear on my analysis.

@Jynell Berkshire any thoughts?

Jeremy,

I have never had a situation where I was able to get a utility bill added to my credit as a trade line. I help clients with credit consulting. PM me if you want to chat about a few strategies to improve credit.

Best,

David

Hi Chad,

Welcome! I invest in Greenville and Spartanburg SC. Let me know if you need help or would like to talk.

Best,

David

Bump

Welcome Nate!

I live over close to Dover NH. Although I invest mostly out of state. Let me know if you need any help.

Best,

David

Hello,

I have started some marketing efforts and sometimes have more leads than I can handle. I would like to build some relationships with a few cash buyers. PM me if your interested in wholesale deals.

I have a friend who is offering Credit repair and is just launching his company.

He got another associate of mine cleaned up quickly (his score went up over 80 points in 3 weeks).

He asked me if I knew anyone who he could do a complimentary credit repair for that would be a good referral source for him.

PM me if it's something you need help with and you think you would be able to help him launch his business as a good referral source.