All Forum Posts by: Dustin Faeth

Thanks for the advice Darrin...will do! You going to be at the COREE meeting in Columbus on Tuesday next week?

Hello BP Family,

I have been coming across a lot of great buy and hold opportunities in the Columbus, Ohio market that I would love to purchase and hang onto for some great monthly cash flow, and to build the rental portfolio...only problem is that I don't have the cash to purchase these properties at the moment, and I'm not able to qualify for any bank financing.

I have some contacts that I am considering approaching to see if they would be an equity partner and provide the cash to purchase these properties, while I would do all the sweat equity and locate the property, negotiate the buying price, get it rent ready (if it's not already), and then place a tenant and manage the property (or hire a PM company to do so most likely), for some type of equity split in the property. My initial thought is whatever split we decided upon (say 50/50) would mean that we would split the monthly rental profits 50/50.

I'm just looking for some input and ideas for the best way to structure a partnership like this, and how to best pitch this to a potential equity partner that will show them the value in partnering with me on deals like this.

Don’t Miss Out on This Duplex in Great Condition for Sale in Hungarian Village area of Columbus, Ohio.

Each side is 3 bed/1bath. Asking Price $38,000. Currently one side is rented until Feb. 26, 2014 at $420/month (below market rentdue to current property management model) and the other side is recently vacant but has now been painted, and a new kitchen added...only repairs needed are a new H2O heater and downstairs carpets cleaned and it will be ready to rent. Average rent for a 3 bedroom in this area is $550-$650/month, so this has great cash flow potential. (Ignore the boarded windows in the Video Tour – All windows are in perfect shape but have been boarded up for security on the vacant side that has been recently updated)

Monthly Income

Total Potential Rent - $1000+ ($420 from current tenant plus $550+ for new tenant placed in vacant side)

Monthly Expenses

Taxes Per Month - $65
Property Mgmt Per Month - $80
Property Insurance Per Month - $50Miscellaneous Expenses Per Month - $50

Purchase Price - $35,000Total Repair Cost - $750 (new H2O heater and cleaning downstairs carpet)

POSITIVE MONTHLY CASH FLOW POTENTIAL - $755 = 25% ROI !!!

This deal won’t last long so contact me ASAP with any questions or if you are interested in viewing the property or making an offer!!

Each side is 3 bed/1bath. Asking Price $38,000 (all offers will be considered). Currently one side is rented until Feb. 26, 2014 at $420/month (below market rentdue to current property management model, so rents can be raised with new tenant when lease expires) and the other side is recently vacant but has now been painted, and a new kitchen added...only repairs needed are a new H2O heater and downstairs carpets cleaned and it will be ready to rent. Average rent for a 3 bedroom in this area is $550-$650/month, so this has great cash flow potential. Check out the Video Tour link below...(Ignore the boarded windows in the Video Tour – All windows are in perfect shape but have been boarded up for security on the vacant side that has been recently updated.

Monthly Income

Total Potential Rent - $1000 ($420 from current tenant plus $550+ for new tenant placed in vacant side)

Monthly Expenses

Taxes Per Month - $65
Property Mgmt Per Month - $80
Property Insurance Per Month - $50

Purchase Price - $38,000Total Repair Cost - $750 (new H2O heater and cleaning downstairs carpet)

POSITIVE MONTHLY CASH FLOW POTENTIAL - $805 = 25% ROI !!!

Hello, we currently have an 8-unit apartment building in Columbus, OH that we are looking into and have been discussing with the owner for the past few weeks, gathering as much info and history about the property as possible.

The owner actually lives and California and ready to sell this property, and has offered to owner-finance it to us, with a 3 year balloon payment. However, he does want a $60K downpayment upfront, so we are looking for an equity partner that would be interested in partnering on this deal and able to put down the $60K downpayment to make this deal happen.

The property is in a good area, and in good condition, and currently fully occupied. The rents have been mismanaged for the last several years and are below market rent for the area, so our plan is to get the rent up to market level on all units within the next year or so to build equity/value in the property, and be able to refinance with a conventional loan within our 3 year balloon to pay off the owner.

If interested in this opportunity, send me a message and we can talk in more detail about everything. Thanks!

Dustin

Hello All,

I currently have a residential rehab project in Columbus, Ohio that we will be closing on later this month and looking for a private lender that would be interested in the opportunity to invest the funds for the project in exchange for a solid interest rate on their money. Message me if interested and I can provide the details and we can discuss terms.

ALSO, I currently have funds in my personal SDIRA account that will be available soon, and I will be looking to invest these funds into another rehab project for any other investors in need, so let me know!

Hello,

Our company currently has 2 properties we are about to go into contract on to rehab and sell, and we are looking for a private lender for each project that would be interested in this opportunity to fund the deal and make a nice return on their money. Below are the basic numbers for each deal, so please contact me if interested and I can provide you with a summary packet of info for each property including CMA's, pictures, etc.

Property #1

3616 Christopher Pl. Grove City, OH - HUD Home

Purchase Price $70K

Rehab Cost $15K

ARV $120K

Property is located in a great family neighborhood within a desirable school district where properties are selling quickly right now. This is a light rehab, mostly cosmetic, so it won't take long, but we will pay a minimum 3-month return to our lender on this project.

Property #2

34 S. Roys Ave. Columbus, OH - Short Sale

Purchase Price $51K

Rehab Cost $25K

ARV $115K

Property is located in a nice neighborhood in the Westgate Park area of Columbus, and has tons of character with all the original trim work, hardwood floors, etc. Planning to update and modernize the kitchen and bathroom, and improving the rest of the home while keeping its original character.

Send me a message with any questions or interest in these private lending opportunities, and I can provide more info. Thanks!

Dustin

Hi Paul, thanks for the response. I actually just got this property sold. I will hang onto your info though and email you directly with any future deals like this that I have. Take care.

Dustin

YOU CAN VIEW PICS OF THIS REHABBED DUPLEX FOR SALE BY COPYING AND PASTING THE LINK BELOW INTO YOUR BROWSER:

http://hdtour.photoshelter.com/gallery/2320-2322-Ontario-St-Columbus-OH-43211/G0000ihzh5_74NE0/C0000ejCugJkq.q0

GREAT buy in North Columbus! Over 1700 sq/ft, FULLY REHABBED, turnkey duplex offers a great investment for all landlord investors! New carpet, hardwood floors, updated kitchens, bathrooms, painted interior and exterior, large basements, and 3 off-street parking spots! 3-bedroom unit rented at $650/month. 2-bedroom will be rented soon at $550/month. Great property for immediate monthly cashflow! Won’t last long!

• Asking Price $55,000
• Monthly Rent: $1,200
• 26% ROI
• 17% Cap Rate

Contact me with any questions or if you would like to see pictures. You can reach me by cell phone at 614-725-7594 or email at [email protected]. Thanks.

Dustin