All Forum Posts by: Garry Hervey

Garry Hervey has started 7 posts and replied 16 times.

Hey Andrew thanks for the reply. I know all HML lend on ARV for fix/flips, but I'm not seeing many for long term rentals. I'm seeing most lend 75%-80% on Loan to value or Loan to Cost, but those recommendations are some good ideas.

Originally posted by @Andrew Postell:

@Garry Hervey the whole point of hard money is that they lend on ARV....well, maybe that and closing fast....but if a HML is not lending on ARV then I'm not sure why they are in business. Keep looking. If you know the product you need but just need it in a specific state try posting in that state forum. Bigger Pockets has some great state forums and usually there are good locals that monitor those. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That's the best bet.

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Hey everyone, I’m looking for a lender that can fit the below criteria. Any advice on who I should go to?

- Can finance a mobile or manufactured home

- Can finance to an LLC

- Can use land as down payment for the home

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Hello everyone, are there any hard money or private lenders that loan on ARV instead of LTV for long term rentals? I've found that most lenders lend on LTV, but I'm looking for someone who lends on ARV.

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@Mushfiq S. Hello, yes I’m definitely down to connect and work together. Please send me your contact information and criteria. I will reach out to you.

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Investment Info:

Small multi-family (2-4 units) wholesale investment in Jacksonville.

Purchase price: $16,000
Sale price: $21,000

Sold a property with a single family 3/1 and 2/1 apartment on the same lot. In addition, the property came with an extra lot next to it.

How did you find this deal and how did you negotiate it?

Driving for Dollars.

How did you finance this deal?

Wholesale

How did you add value to the deal?

I sold the 3 properties as a package deal.

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Sold

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@Michael Chiafulio Jacksonville is a very hot market especially for cashflow properties. Also, If you have any interest for turnkey properties in Detroit or Cleveland bringing in 10% ROI I can help you.

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Tenant in Place, Property Management in Place, Grade A Construction.

More Information/Pictures - http://aqualife.cashflowready.com/Property/1959/7400

CASH FLOW ANALYSIS

MONTHLY RENT PMT :$800

ANNUAL RENT :$9,600

ESTIMATED* HAZARD INSURANCE: $500

ESTIMATED* PROPERTY TAXES: $1,200

PROPERTY MANAGEMENT EXP: $960

ANNUAL UTILITIES EXP: $0

ESTIMATED* NET INCOME: $6,940

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Property is located in West Atlanta. Tenants are in the property until 1/23/2019.

Pictures - https://www.dropbox.com/sh/nuq9cj9o4zhukfv/AADpJEcVPmEpmgUudKahKfFoa?dl=0

For More Information Please Call Me at 904-452-7828 or Email [email protected]

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Hi everyone, I have a large inventory of turnkey rental properties in Detroit & Cleveland. These properties are tenant occupied, property management in place, with grade A construction. ROI ranges from 10-12% depending on the property you buy. See my below inventory by clicking the link and if you have any questions/interest feel free to reach out.

http://aqualife.cashflowready.com/

Garry

Aqua Life Real Estate, LLC

[email protected]

904-452-7828

1 Vote

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All Forum Posts by: Garry Hervey

Garry Hervey has started 7 posts and replied 16 times.

Post: Lenders that base on ARV instead of LTV?

Post: Land in Lieu Lenders

Post: Lenders that base on ARV instead of LTV?

Post: Wholesale Deal in Jacksonville

Post: Wholesale Deal in Jacksonville

Post: 2/1 Single Family Home For Sale in Atlanta

Post: Looking for best cash flow markets to buy rentals (SFRs)

Post: 3/1 Turnkey Rental For Sale!

Post: 2/1 Single Family Home For Sale in Atlanta

Post: Turnkey Rental Properties in Detroit & Cleveland!