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.

Due to the property size, I expect I'll require at least $200k for the downpayment on an 80% LTV loan...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

Looking for financier who offers HELOC's without proof of income.

Desired loan amount: $50,000

Thank you

(772) 577‑0084

Looking for financier who offers HELOC's without proof of income.

Desired loan amount: $50,000

Thank you 

@Peter C.,

I agree with @Craig Kleffman. I would easily pay a MUCH higher price for your leads if I was able to get them under contract. 

I'd be willing to test your service once or twice, but paying that much per lead is rough.

- Jordan

Currently looking for great deals on Multi-family commercial units in all markets.

Wanting to syndicate projects with investors looking for a good ROI.

I'm experienced with rental units, and will do all of the property management myself (or find a PM company, depending on location). 

All I require is the capitol for the downpayment. 

If interested, message/call me for more information. 

- Jordan Redar

772-577-0084

Searching for lenders offering HELOC on MFR.

Currently working a commission based job, so no proof of income can be acquired.

I'm looking for a 40 - 50k loan.

If any financiers offer a product that meets the criteria I seek, message or call me.

772-577-0084

Thanks,

Jordan Redar 

@David Rutledge

Different lenders have different criteria. Call banks, credit unions, and private lenders to see what they offer for HELOC's.

@Peter C.

Make sure you have your realtors license before doing this. This would DEFINITELY be considered brokering.

The reason wholesaling without a license is legal is because you are selling equitable title (ie: contract to purchase). 

What you are doing is collecting a referral fee for connecting buyer and seller, without having any interest in the property.

@Justin Young

Never buy based on pro-forma numbers. Only buy based on actual numbers. Without knowing the cash flow (in and out) for the year (ie. trailing twelve), you would need to use conservative approaches for determining expenses, such as the 50% rule.

@Mike L.

Consider the return on investment, and the return on labor.

If you can't get quite the return on investment, but you are saving yourself a ton of time by only managing one complex, that strategy may make more sense.