All Forum Posts by: Kevin James O.

@Lesley Resnick well said, location and easy access to walkable areas makes the difference 

I'm seeking private funding to complete a Subject-To conversion project in Jacksonville, FL. The property is owned under IKAN LLC and currently mid-renovation, with approximately $35,000 already invested and about $40,000 remaining to finish the rehab. Once complete, the single-family residence will operate as a 8-room co-living rental through PadSplit. Renovations are underway and scheduled for completion in 2–4 weeks. The after-repair value is projected at around $310,000 with expected monthly net cashflow between $4k - $5k. My exit strategy is a DSCR refinance within the next 12 to 18 months, which will provide repayment of the short-term funding. I am offering a 12% interest-only return on a 12-month term secured by a 2nd lien, though I am open to discussing alternative structures with the right partner. If this is of interest, please DM me here on BiggerPockets and I will provide the full investor package including CPA-prepared projections, renovation budget, and supporting documentation.

@Basit Siddiqi You’re right that PadSplits are not a one-size-fits-all strategy that's why i ran the numbers carefully on my deal including ARV, rehab budget, and projected rents and the model still produces strong cashflow margins even after expenses and PadSplit’s fees. I also have built in exit strategies in case the PadSplit approach ever stops making sense and my goal is to have multiple strategies (not just PadSplit)

I've done some short term rentals and I have a traditional rental since 2021 same tenants but this will be my first sub-to and PadSplit.

Hi BP Community,

I’m an active investor here in Jacksonville, focused on creative financing strategies (Subject-To acquisitions) and value-add conversions 

My latest deal is a Subject-To property we’re renovating into a 7–8 room PadSplit. I’m targeting strong monthly cashflow once stabilized.

I’m here to connect with other investors, private lenders, and local partners who are active in the Jacksonville market and interested in learning more about creative strategies. Always happy to share what’s worked for me so far and hear how others are structuring their deals.

Looking forward to building with the community!

— Kevin O., IKAN LLC

Thank you @Jake Baker and @Nicholas L. That's an awesome recommendation. I agree with you all. especially the aspect of tagging along on ongoing projects. Great point. duly noted.

Hi everyone,

I’m new to this and looking for someone who will help mentor me in the fix and flip / Brrrr. I want to learn and know what I’m doing when I start so I can do it right. I’m looking at Jacksonville/Georgia markets for now or anywhere that works.

If you are that person willing to take my hand, Please reach out to me.

Thank you.

Kevin

Thank you Rachelle.
I received your message containing the discount code.

I am a new member and was wondering if any discount codes are available for pro membership.

Thanks

Kevin