All Forum Posts by: Jovan Hardwick

If nobody replies, just go online and pull up all the nearby title company in your area.  Then ask if they do double closing or assignment of contract. 

If they do, then they will be a good pick to work with but feel them out.  See if they're good to work with and look at how they handle your deals.

I would shop around or ask any local investor who they use.  Also, if you haven't already look in to getting an insurance broker and not agent.

Welcome to BP Jared. You could look for local investors or start your own REI club in your area.

welcome to BP.  Wholesaling is an options in Fl.  There are tons of wholesalers with websites in florida.  Just check on BP on the right way to do it. Wholesalers are not representing the seller and by contract laws you are allow to assign the contract unless the contract states otherwise.

Hey Guy,

At 85K (if you are sure you can get that) will be perfect because at 80% LTV your all in amount is 68,000. I say this because since the sale price is 62,000 for purchase.

If you could offer 50K on the initial offer and in negotiation settle at around the magic number of $55,500 (which would be the home run number).  

At $55,500 you could offer to pay all closing if closing is $1500.  So 55,500 + 1500 (Costing Cost) + 5000 (Estimated Repairs P.S. make sure this number is strong and on point) = 62,000 Total Project cost.

If you Refi the property 85K @ 80% you could pull out 8,000 at closing including your down payment money to do another deal.  But, make sure if they're any seasoning or time frame you have to wait to Refi.

Correction:

When I ran the numbers it cash flow at 313 or more if you grind and do the property management yourself you would cash flow 402.5.

For this to be a deal you would have to Buy and Hold plus put into the deal the down payment and rehab cost.  Or you could partner up with someone and have them come with the down payment and rehab cost.  Then split the cash flow of 300. When I ran the numbers it cash flow at 313 or more if you grind and do the property management yourself. 

Hey Guy,

Great job at finding a potential deal. Base on the numbers in this post, did you run a rental or BRRRR calculator on this deal? It looks like you did a rental but I'm not getting the same numbers. Check out how I ran the numbers Deal Calculator. Also, this does not include you paying for any utilities.  Also, are you using traditional or hard money on this deal?

With these %:

vacancy: 5 = $44.75

Repairs and Maintenance: 5 = $44.75

Capital Expenditures: 5 = $44.75

Property Management Fees: 10 = $89.50

Hey Justin,

Try J.Scott website Resource .  Follow this link and click on the house flipping and wholesaling software with accounting feature.  This might work better with it being a one time cost.  Let me know how it works out and you can try them for free. 

Easy to answer for you David, I would highly recommend "The Book on flipping Houses by J Scott".  BP bible for flipping and estimating cost for flips.