All Forum Posts by: Leo Lanza

Think of an LLC as a wall. Any assets you put into the LLC are protected if you personally get sued or if someone at the property she's you. Then your personal assets are protected and separate from the LLC. Keep in mind anything under the LLC someone can go after which is why you should have a different LLC for each property. This keeps each asset separate and protected.

I would not suggest Facebook, Google AdWords, etc unless you have $4,000-5,000 per month just for internet marketing. Depending in the demand in your market it could range from $75-250 per call or click. That being said, they work very well.

check your local laws. In Texas we aren't required to have an asbestos inspection, but the owner is required to disclose if he knows about it.

First you should figure out what your average days on market is for your comps in the neighborhood. If the average days on market is 60 there's nothing to worry about, but if everything else is selling in 15days. Then there's something wrong with your property price, design, floor plan, proximity to a busy road(parents worry about there kids).

Great flip or rental in Plymouth Park North subdivision of Irving! Home will need a new roof and cosmetic updates. This is a very low days on market area with homes selling in just a few days after being listed. Many comparables are not fully updated and subject property will be one of the nicest homes once renovations are completed. You can also rent this out for $1900+ a month. Rehab estimate on the last page of analysis packet.

ARV: $155,000

Rehab: $30,000

Price: $95,000

Call Leo Today! 817-507-9497

Description:

3/2 enclosed garage (master bedroom) with long term tenants paying below market value rent. They are on a month to month and unfortunately will still be there when the deal closes. The play is that they either pay market rent rate after remodeled or you boot them if the investor is looking at this as a B/F/R. Please do not let this deter you as we can work on the tenants if it becomes an issue. PLEASE DRIVE BY ONLY. Working on group showing soon. I put some unknowns and/or options in rehab budget to cover myself. i.e. Not sure that windows are needed, not sure both baths will need $2K each, not sure if HVAC is a total redo or a service, and finally not sure that a roof is needed (especially if it is being held as a rental).

ARV: $131,000

Price: $87,500

Rehab: $18,000

Rents: $1300-1350

Pros:

-Rents for 1.2%
-cosmetics other than foundation

-Strong Rental and resale comps

Potential Investor Concerns:

-Foundation ( will have bid)

Notes:

Awesome Rental or Small flip in Lancaster. Rehab consists of cosmetics and foundation repair. Rents for 1300-1350+. Converted garage but the original house is 1396 sqft. 

This won't last so please call Leo 817-507-9497

Lake Highlands Flip! House needs everything! Rehab includes full cosmetics, roof, partial fence, garage re-conversion, windows, and foundation. See the breakdown of rehab in back of the packet. Most comps were smaller than us except one. Our layout is good so that a plus. Sq footage of the house is 2498 but this includes the converted garage. I think best play would be to re-convert garage which would put us closer to 2100 sq ft.

Call Leo Today! 817-507-9497

ARV: $425,000

Price: $285,000

Rehab: $65,000

This is a 2005 build in Frisco with many extras including a media room & a pool! The rehab budget is strictly for cosmetic updating with mechanicals all working! 

Call Leo Today! 817-507-9497

ARV: $720,000

Price: $569,00

Rehab: $35,000

Nice duplex in Wedgewood Sub in Fort Worth. Currently occupied by the owner on one side and tenant on another side will be out by closing. Property is in good shape and doesn't need to be very nice to hit 1150 a month rent. I have budgeted to replace the roof and do some slight updates on both sides. 

Call Leo today! 817-507-9497

ARV: $230,000

Rehab: $20,000

Price: $190,000

Rent:$1150/unit