All Forum Posts by: Leo Lanza

Address: E Cannon St, Fort Worth, Texas 76104

NPO: $260,000

REHAB: $31,000

Cost: $230,000

Down payment: $5,000

Call Leo 817-783-4014

Description: Quadplex in Fort Worth! This has the opportunity to have some great cash flow. Not many comps around the area, but there is a very similar quadplex that is renting out for $650/unit and the finish out is nothing fancy. Also, another multi-family unit in the area is renting for $750/unit. Subject property needs some foundation work (will have bid shortly), and some cosmetic work to get it rent ready (All bathrooms have been updated, newer flooring and paint, new roof, electrical and plumbing are good to go). Budgeted an extra $3,000 for each unit to spruce it up a bit. Could easily be less. Great property to start the new year off with!

Address: Clover Hill Rd, Mansfield, Texas 76063

NPO: $435,000

REHAB: $75,000

Cost: $273,000

Down payment: $10,000

Call Leo 817-783-4014

Description: Golf Course Property (backs to 13th hole). 2 Story that needs cosmetics only throughout the home. No big ticket items. New roof. 2nd story is the master suite. DRIVE BY ONLY.

Address: Radford Rd, Fort Worth, Texas 76119

NPO: $101,000

REHAB: $9700 (for rental)

Cost: $71,500

Down payment: $5,000

Call Leo 817-783-4014

Description: This is a great rental candidate--it needs very little work to turnaround and get rented out--in great shape apart from a few cosmetics. I budgeted to replace the roof to be safe, but I'm not sure it really needs it. Once cleaned up, it should rent pretty easily--comps are in the $1150-1250 range, but we don't have a garage, so I discounted a bit for that. Cheap and easy--won't last long!

Address: Arboreal, Dallas, Texas 75231

NPO: $525,000

REHAB: $70,000

Cost: $365,000

Down payment: $5,000

Call Leo 817-783-4014

Description: Great Opportunity to Flip in Highly Desirable Merriman Manor Subdivision with great outdoor amenities and nearby White Rock Lake. This property is a bit larger than the surrounding homes. Tax SQ FT of 2837 includes enclosed garage and sunroom. Since the garage is converted taking that back to a 2 car garage looks to be more common to the neighborhood and you can leave the nice carport as bonus covered parking. There is also an enclosed sunroom that could be better used as an open outdoor patio with the current exterior wall and door were removed and a sliding or double door being put back in original place to the right of the fireplace. The property will still be larger in livable square footage than all other comps after these 2 changes. Rehab breakdown provided to address remaining scope of work. Some Foundation work looks to be needed. $5,000 estimate in the budget but pier and beam foundation condition needs to be confirmed.

Address: Stockton Ln, Frisco, Texas 75034

NPO: $499,000

REHAB: $32,500

Cost:  $390,000

Down payment: $7000

Call Leo 817-783-4014

Description: Amazing Frisco flip on cul-de-sac! Brand new roof put on a few months ago. Has around $4,000 in foundation. Have bid. Nothing major. A/C in great shape. Has 3 car garage and fence and pool in great shape. Heater not working. That would need to be fixed or replaced. Nice side yard for kids and dog. House already in great shape. Really nice media room. Other that one, comps are mostly in original updates from early 2000's. Needs very minor cosmetics including paint/wallpaper, some flooring, granite in the kitchen and stainless apps if you choose. Comps show black appliances. I would rearrange the master bath because it is choppy due to owner's choice when built. The other bathrooms are fine in my opinion. With great comps with pool and us being on quiet culdesac, I don't see any issues getting the asking price you want.

Address: Del Oak Dr, Mesquite, Texas 75149

NPO: $146,000

REHAB: $30,000

Cost: $1,900

Down payment: $5,000

Call Leo 817-783-4014

Description: Nice off-market flip or rental in the Edgemont Park Estates of Mesquite !! This area of Mesquite continues to appreciate with home prices now selling closing to 110.00$ Asqft in just weeks of being on the market. The rental comps are also strong with homes leasing close to 1200.00 -/+ a month. The budget for rehab will go towards updates in the kitchen, bathroom, along with some foundation work (bid attached) and much more. Call your Networth agent for access and details !!!

Address: Cascade, Fort Worth, Texas 76179

NPO: $380,000

REHAB: $85,000

Cost: $215,000

Down payment: $5,000

Call Leo 817-783-4014

Description: Awesome resort style home in Lake Country Estates! This house has a new roof but needs just about everything else. Foundation bid is attached as well as a full rehab bid. The bid came about to about $100,000 but a savvy investor with their own contractors should be able to shave this down quite a bit. This property has tons of potential and a great scenic overlook of Eagle Mountain Lake.

Address: GormanDr., FortWorth, Texas 76132

REHAB: None currently (all fully tenanted), but possibly $20-40K eventually for deferred maintenance.

Cost: $600,000 for all 4 duplexes (8 units)

Down payment: $10,000

Call Leo 817-783-4014

Description: These are four fully tenanted duplexes (one unit is in turnover currently) at $900/mo per 2/2 1097 sqft unit. The units are in varying condition, from "needs $5K in work" to "updated and rent ready", but at $900/mo, these are pretty low for the area, even for duplexes. With low vacancy and a total gross monthly income of $7200/mo, these things are quite the cashflow machines!

Address: Nueva Tierra St, Grand Prairie, Texas 75052

NPO: $168,000

REHAB: $20,000

Cost: $117,500

Down payment: $5,000

Call Leo 817-783-4014

Description: Nice off-market flip or rental in the Vista Grande Estates of Grand Prairie !!! Updated homes in this area are currently selling over 123$ Asqft with many going under contract within just 16 days on average. The rental comps are also very strong with homes leasing around 1400-/+ a month. The Budget for rehab will towards updates in the kitchen, baths, flooring, along with replacing the roof and more.

Address: Bent Tree, Dallas, Texas 75248

NPO: $1,450,000

REHAB: $250,000 - $300,000

Cost: $800,000

Down payment: $15,000

Call Leo 817-783-4014

Description: Amazing flip in prestigious Bent Tree Subdivision! This house sits on the 14th hole of the Preston Trail golf course. Massive rehab budget to do whatever you please to make it someones dream home. Foundation bid of $10k from Lima Foundation. Pool in great shape. Roof in great shape. Needs everything else. Appraisal based on making extra sqft above the garage to make the house of 6200 sqft. If you didn't do that, in my opinion, the house is worth 1.35 million without the extra sqft. Great profits in a no-brainer neighborhood!