All Forum Posts by: John Crutsinger
John Crutsinger has started 4 posts and replied 5 times.
Post: Complete rehab for future student housing
- Posts 5
- Votes 3
It is in Devon Park, backs Randall Lake, we purchased it in April 2020. It was a monster rehab, took 14 months. Luckily it was a cash purchase so our carrying costs were minimal.
Post: Tons of upside potential
- Posts 5
- Votes 3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $360,000
Cash invested: $200,000
4 bedroom sfr. Student Rental. 36% LTV, 8.83% annualized return.
What made you interested in investing in this type of deal?
Great location
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Self financed
Post: Adding an ADU for cash flow
- Posts 5
- Votes 3
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $250,000
Cash invested: $200,000
3 bd sfr front house, convert garage to 2 bd back unit. LTV 44%, annualized return 11.39%.
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Conventional loan
How did you add value to the deal?
Added an ADU
What was the outcome?
Increased cash flow
Post: Converted to Mid Term Rental
- Posts 5
- Votes 3
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $395,000
Cash invested: $150,000
Small multi unit, 3bd sfr in front, 2 units in back, 1 1bed, 1 studio. Currently renting as furnished mid term rental (3-6mo). 48% LTV, 17.7% annualized return.
What made you interested in investing in this type of deal?
Improving area great upside potential
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Yes
How did you add value to the deal?
Furnished convert to Mid Term Rental
What was the outcome?
Great cashflow
Post: Complete rehab for future student housing
- Posts 5
- Votes 3
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $290,000
Cash invested: $290,000
Single family front house 4 bd, 2bd back unit. Complete rehab down to studs. Current LTV, 39% annualized return 8.93%.
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
Tracked down owner of expired listing
How did you finance this deal?
Cash then cashed out refi
How did you add value to the deal?
Comps
What was the outcome?
Good cash flow great rental stability, appreciation
Lessons learned? Challenges?
Work flow in Wilmington NC