All Forum Posts by: Kevin Yoo

I am trying to figure out what formula to use in excel if I sold my note at a discount to calculate the new rate. Does anyone know this?

We own multiple single family homes in Indiana. We would like to sell them with owner financing. With the Dodd-Frank laws, we now have to do this properly with a licensed mortgage broker. Does anyone know of a mortgage broker in Indiana that can generate this kind of mortgage?

If multiple people/entities own a rental, is it possible to direct the tax benefits/write offs to certain parties that would be not in line with the percentage of ownership held by those parties?

YOJ Holdings has another solid opportunity to lend on a rehab project in Jacksonville, NC. We will partner with Lou Ellis once again. 504 Oak Lane, Jacksonville, NC, 28540 is a 3 bed / 1 bath home on a generous ¼ acre lot.

Purchase Price: $25K

Repairs: $35K

Conservative ARV: $100K

PP + Repairs / ARV = 61%

It is across the street from another home we are listing in the next few days, 509 Oak, which will list for $104,900, being 200sf larger. As usual, the scope of work will include all new flooring, kitchen, bathroom, doors, windows, roofing, HVAC, and on this home, extensive plumbing and electrical work is anticipated.

For this property EAC has negotiated a return of 2% per month on a total of $60,000 in purchase and construction funding. Total hold time for this property is proposed to be 4 months. In order to protect the privacy of our investors, EAC LP will create a trust for pooling funds, manage the construction and, as always, Dr. Kevin Yoo will personally guarantee the investors’ principal. For these services and guarantee, EAC will earn a portion of the profits on the home directly from Lou Ellis. Our investors retain the entire 2% per month return.

View this post on our Bigger Pockets blog!

Kevin Yoo, M.D. | President

EAC GP, Inc.

858-449-9847

[email protected]

http://www.eacinvestments.com/504-oak-lane/

Here is the next in the pipeline of single-family residences to fix and flip in the Jacksonville, NC vicinity. Once again brought to us by Lou Ellis, 170 Brighttown Road, Maysville, NC, 28555 is a 3 bed, 2 bath 1,539sf home.

Purchase Price: $44K

Repairs: $35K

Conservative ARV: $125K

PP + Repairs / ARV = 64%

Lou will fully renovate the existing home with new windows and doors, flooring, all new kitchen and baths, a new roof and siding, drywall and interior paint, and recessed lighting throughout. We have provided gap and construction funding to Lou Ellis on several other properties in the past year and have found his work to be very high quality and their construction budget and ARV's conservative.

For this property EAC is receiving a 24% per annum rate on a total of $85,000 in purchase and construction funding. Total hold time for this property is proposed to be 4 months. In order to protect the privacy of our investors, EAC LP creates a trust for pooling funds, manages the construction inspections and draws, and Dr. Kevin Yoo personally guarantees the investors’ principal. For these services and guarantee, EAC will earn a portion of the profits on the home directly from Lou Ellis.

View this post on the EAC Group Blog

Kevin Yoo, M.D. | President

EAC GP, Inc.

858-449-9847

[email protected]

http://www.eacinvestments.com/170-brighttown-rd/

YOJ Holdings has another solid opportunity to lend on a rehab project 409 Foxtrace Ln, Hubert, NC 28539. For this house we will be lending to Lou Ellis, with whom we have partnered on several successful deals.

Purchase Price: $61K

Repairs: $25K

Conservative ARV: $130K

PP + Repairs / ARV = 67%

This 3Bd/2Ba house offers 1,506sf and a HUGE backyard anda nice fireplace in the living room. Hubert is a town closer to the beachesthan Jacksonville, yet still minutes away from Camp Lejune. As usual, the scope of work will include all newflooring kitchen, bathroom, doors, windows, roofing, and HVAC, if needed.

For this property EAC has negotiated a return ofon a total of $87,000 in purchase and construction funding. Total hold time for this property is proposed to be 4 months. In order to protect the privacy of our investors, EAC LP will create a trust for pooling funds, manage the construction and, as always, Dr. Kevin Yoo will personally guarantee the investors’ principal. For these services and guarantee, EAC will earn a portion of the profits on the home directly from Lou Ellis. Investors retain the entire 2% per month return.

View this post on the EAC Group Blog

Kevin Yoo, M.D. | President

EAC GP, Inc.

858-449-9847

[email protected]

http://www.eacinvestments.com/409-foxtrace-ln/

We are looking for a conventional loan with more LTV like 80% or more. And it is not a line of credit, because we are selling it to our credit partner who will use his credit but our money to buy the home from us. We then split the cash flow and the equity. We have done this already on two multiplexes but the broker we used was not very good.

I have four plex in St. Louis I own free and clear and want to refinance. It will appraise for about $90K. Does anyone do this type of loan or can refer me?

Marvin,

I am sorry. I do not.

Purchase Price: $48K

Repairs: $18K

Conservative ARV: $110K

PP + Repairs / ARV = 61%

YOJ Holdings has another solid opportunity to lend on a rehab project in Jacksonville, NC. For this house we will be lending to one of the principals involved on our first project in the area, an investment in which we were repaid in 84 days.

Further, we are limiting the loan-to-value at 56% of the appraised after-repair value of the home. An appraisal completed two weeks ago placed the after-repair value at $116,000.

This deal is already fully funded, and EAC is receiving a return of 3% per month on our investment. Our investors are receiving a 2% return on a total of $65,000 in gap purchase and construction funding, and the remaining 1% will go to EAC to cover management expenses. Total hold time for this property is proposed to be 4 months.

This new project is a 3 bedroom, 2 bathroom, 1,080sf home. We are contracting with an experienced professional that we have worked with on several other projects to manage the construction inspections and draws on this project. He is requiring all work be completed prior to releasing funds, so no pre-payment of construction labor, materials, or sub-contractors will be allowed.

Kevin Yoo, M.D. | President

EAC GP, Inc.

858-449-9847

[email protected]

http://www.eacinvestments.com