All Forum Posts by: Evan Bell

Will Pritchett thank you! I didn't figure appreciation into my final numbers, but it is a consideration that I have to take into account. The property is in Southern California, so potential appreciation definitely does play a role in our ultimate decision.

Bueller? Bueller??

Chris Mason no problem. Our properties are located in Lucerne Valley.

Properties are rented for $2495/mo gross. $325k equity. Held in LLC. Credit scores are 700+. Upen Patel

Chris Mason I will be contacting you.

I figured that's probably what I should do, just didn't know for sure.

Quick question....

I have a CA based LLC, but live in AZ. I need to order business checks for the LLC and I'm not sure which address to put on them.

Can I put my AZ mailing address? Or do I need to put the legal CA street address of the business?

We are looking at a house that, on the surface, looks like a good candidate for the BRRRR strategy, although when I run the numbers through the BRRRR calculator I can't make sense of them to pull the trigger on the deal. Not sure if I am inputting everything correctly, so I turn to you all....

Details:

Our purchase price is $290k

Current ARV is at $430k

Rehab cost is between $60k-$80k

Rehab time frame is estimated at 3 months

We will be using hard money to purchase/rehab with 20% down from us

HML is at 3 points and 9% interest only payments for 3 years - no prepay penalty

Refi loan would be for $350k-$370k, depending on our all in total after rehab

Interest rate for refi loan would be 5%

Market rent for the property is between $2700-$2900

Other factors to consider are:

Overall appreciation for the county is at 7.4%, with overall appreciation for our zip code at 11.9%

Expected value of house in 12-18 months (projected time of refi) is at roughly $475k-ish

Does this deal make sense at the numbers we are considering? Thanks for your help!!

Gary John welcome! I've just put an offer in on a house in City Heights. What are your thoughts on the transformation that the North Park/Kensington/Talmadge areas have seen over the past few years?

@Joe Lugo, can you email line of credit info to [email protected] please?