All Forum Posts by: Jordan Archer

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth, and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from West Palm Beach. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Redar

772-577-0084

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth, and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from West Palm Beach. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Redar

772-577-0084

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth, and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from West Palm Beach. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Redar

772-577-0084

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive. I am also affiliated with the NRT Property Frameworks property management team, and have a list of qualified referrals.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth, and stable economic situations. Also, the properties that I consider will be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from West Palm Beach. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Redar

772-577-0084

@Dave Brinkman

I always tell people new to this site to check out the podcasts. You're already on the right track : )

- Jordan

@Kay Rock

If you intend to house hack, pick an area you feel comfortable living in. I know its very exciting to buy your first property, and you probably have a fire under your butt right now, but this is going to be your home. Don't put yourself in a dangerous area.

Also, does that income of 4100 include the rent you would receive on the unit you intend to live in?

I'm happy you decided to go for a fourplex though. I bought a duplex, and wish I went for four. Keep looking at quads in better areas.

- Jordan

Hello BP,

I have wholesaled 10 SFR and MFR properties in South Florida. I also own and manage 3 rental units.

I'm looking to build capitol for the acquisition of a 10 - 30 unit apartment complex, with an approximate COC return of 10 - 20%

Any and all property management would be handled by me, so you're investment would be completely passive.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80%LTVloan...depending on how much I can get the seller to carry back.

I'm pursuing markets with great job growth, and stable economic situations. Also, the properties that I consider will only be ones where I'll have the opportunity to force appreciation through minor renovation and increased rents; the properties will already have equity when they're purchased. Further, I am only considering properties that can be acquired at CAP rates higher than market average.

I've gained some momentum identifying properties of this nature through pocket listings brokers have sent me from Kansas City. I'm continuing to build relations with brokers in other cities as well.

Let me know if you or your affiliates are interested in working with me on a future project.

Thanks,

Jordan Redar

@Anthony Dadlani

Thanks for your reply.

I look forward to speaking with you soon!

Sincerely,

Jordan

@Account Closed

My duplex purchase was very similar to the situation you currently face.

The owners lived in it, and took great care of it. It was their nest egg for retirement, so naturally, they wanted to get as much as they could.

I took an FHA loan on the property, which required an appraisal to justify the loan amount. The appraisal came back 20k less than what they wanted, so they were forced to lower their price.

There were also some rotten wood on the roof, that I made them pay for the repair before I purchased.

Based on your market rent, I suggest you get this property at least 20k less than what they are asking. Since this is your first investment, you have a lot to learn. However, buying at a price that allows your rent to cover the majority of the mortgage is a HUGE advantage. I almost wish I found a better deal on my duplex, but I'm still very very happy I bought it. 

Good luck on the purchase!

- Jordan

@Elizabeth Schellhammer

Embrace this as an opportunity to learn how to say "no" and to thicken your skin.

Your contract should detail everything that is and isn't acceptable. If they want to stray, say no. 
Also, if they are bugging you on a frequent basis, you could make them send you any requests to an email account, that you make sure you only check on a weekly basis. You can't let them sap your energy on a daily basis, so don't fall in to that trap. However, remain a great landlord, respond to their requests (weekly), and if they violate the lease evict them and learn how to navigate that process.

Good luck!

- Jordan