All Forum Posts by: Adam Demchik

Jacob and Aaron...thanks for the tips. Aaron...great podcast by the way.

BP...I am looking to open a self directed IRA. Does anybody have any suggestions on which company I should use?

Thanks in advance!

Just looking for any opinions on the deal I am working on below:

Property: 1 Quadraplex (4 - 1 Bedroom units) and 1 SFR (4 bedrooms), both on a main street in a small town

Condition: Both in excellent condition. New roofs, paint, carpet, counters, cabinets, etc

Rent: $40,800 yearly ($3400/month)

Expenses and Vacancy: $20,000 (using information from seller)

Mortgage Payment: $9,224

Pretax Cash Flow: $11,576

Cash ROI: 16%

Cash/Door/Month: $188

Any comments would be appreciated!

Thanks!

Adam

Jon...my analysis is about the same so I don't think you are off. Expenses might be a bit higher with the landlord paid utilities but over all still excellent.

Roy N. ...Thanks. I am looking for a company to do the air quality test now.

The remediation was done by the seller and not a contractor that did a third party test. My concern is whether a proper remediation can be done now that they have painted it with kilz. Thanks for the advice!

Looking to purchase a rehab and the seller has already remediated a mold issue by using bleach and painting everything with Kilz. I am pretty sure this is not the correct method. The house had mold in the attic and in the bedrooms. I have no issues hiring out the mold remediation process but can I do it correctly if it has been painted with Kilz? Is there an air test I can perform? Thanks!

Cameron Chesney I am planning on continuing the post cards to absentee/mortgage lates for at least 2 more mailings for a total of 4 to my list. I have also figured out how to get probate leads for free here in Michigan (it actually $80 per year but that is about free compared to $1.25 a lead through USleadist). I will mail probates at least 4-5 times as well.

Brad Chandler...I did not get any deals out of the 500 addresses I mailed to. I mailed each address twice.

I just completed a mailing with 500 yellow letters to a list I bought from US lead list. I got about an 8% response rate. I also did 300 post cards to absentee and mortgage lates with about a 4% response rate.