All Forum Posts by: Linda King

Property 1 - $25,000 Equity

Single Family House Bedrooms: 4+ Baths: 3

437 Collier Ridge Dr Atlanta 30331

Est. After Repair Value (ARV): $100,000 Asking Price: $75,000 Estimated Cost of Repairs: $0 Profit Potential of: $25,000

About Property:  Beautiful 4/3 1463 sq ft home. Built 1948. Fully remodeled. No repairs needed.  This is a beautiful home. Granite, stainless steel appliances, open floor plan.

Property 2 - INVESTOR SPECIAL
Nice House Located in Nice Decatur Neighborhood!

$74,900 Cash Price

4034 Flakes Mill Road Decatur, GA 30034 DeKalb County

Multiple options with this deal but the best strategy might be to sell as a lease option for $130k! You buyer may not close on the deal but if they do, you make a nice profit and enjoy so good cash flow in the meantime. Recent comps support value of $100k to $125k so might be a little tight to retail flip today. Certainly will make a great rental and you would be picking up some nice immediate equity.

Drive-by today and email me to send you a contract and then we will get you inside. The pictures will give you a good idea on overall condition for this one!

This is an all brick and siding split foyer home which was originally built in 1973. Home has 4 bedrooms and 2.5 baths and has 2104' of living space. Includes living room, formal dining room and family room with brick fireplace downstairs. Some nice upgrades already in place including new kitchen cabinets. Home is currently rentable/livable in current condition but has some deferred maintenance! In order to get back in good shape plan on interior paint, replace or clean carpets, updated appliances, a few fixtures, landscaping, trash-out and a good cleaning; est. = $10k for rent ready.

Tax value of only $33,500 with 2014 property taxes of only $961. Records show that the home sold back in 2002 for $115k. This will be an easy $900 per month rent after minor upgrades. Recent neighborhood comps up to a high of $125k.

Occupied! Drive-By and Inspection allowed during DD period.

Net ROI - $900/x12 = $10,800 gross rents Annual Taxes = $961 Est. Insurance = $600 P. Mgmt = $72x12 = $864 Net Annual Cash = $8375 or 10% ROI

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! There are NO fees associated with our assistance to Buyers/Investors!

 Please respond to our email address for more information or call…

Linda King, Owner

Legacy Asset Solutions

[email protected]

407-340-2319 cell EDT

$1.012 MILLION in Retail Values Three (3) Properties @ $242K Wholesale Price

CASH Buyers only - $242K for ALL Three (3) if closed in ten Days, Title Company Ready

Wholesale plus Ready to Owner Finance

1. The Norris Lake 4200 SF Home is NEW 70% Complete Norris Lake only one half Mile ,
Then about one and a half miles to Hickory Star Marina ,Motel, Resort and Retirement Community.

Comps in area; .30 Acre Resort Lots Start at $60K+
You get a Deeded 2.5 Acre+ a deeded 2.3 Acres = 4.8 acres total...........
Norris Lake ....In the last 30 Days Homes have Sold for $101 per SF in this Area......
344 KECK RD.
Maynardville, TN. 37807

4200 S.F. 65 to70% complete........ 2.5 ACRES (2 surveyed lots)
Set up for 4 or 5 Bedrooms and 4 to 5 Baths
Two (2) Deeded Lots can be Sold Separate........ Non-Restricted Property
Replacement Cost,,,,,,,,, $549K+
$549K+ Finished........................Country Estate or Mini-Farm
Wholesale 4200SF home & 2.48 acres ;


2. Livable 3Bed/2 bath MH... 990 SF....................... 2.35 Acre
needs Paint & carpet shampooed.
You can LTO or Owner Finance this abandoned but very Livable 3bed-2ba. M.H.
w/2.3 acre ............. No Value has been put on MH. (would LTO for $99K)
We have Three (3) Lease to OWN Buyers standing by.
All with good DOWNS
The Norris LAKE are 3Bedroom-2 Bath MH rent for $600 to $750
<Next DOOR to 344 KECK Rd and can be included with the one above New 4200 SF w/2.5 acres>

3. PRIVATE 3200 SF. 4 or 5 Bedroom Beautiful Stone with 3 Large Stone Fire Place
about half mile from Multi-Million Homes & LAKE
30' LARGE Glassed in Sun PORCH

TOTAL LAND 1.20 ACRES ...could be a Mini-Farm
or " Country Nice ESTATE "
* NEW Roof less than a Year OLD paid $30K
* New Garage Door
* All inside Paint work almost complete.
* Some outside trim paint Done.
* The Stone is Maintenance Free
* Some Per-go Style Floors replaced.
* Being a 1960's era needs minor cosmetic

Could be duplex-ed / 5Bedroom and or One HOME if you Prefer
Built in 1960's Beautiful ARTISTIC Stone WORK , needs Cosmetic TLC
New Roof $30K
New Garage Door
New Paint & some Flooring

1500'+Road Frontage could be Subdivided into 2,,,, .30 acre Lots
In the last 30 Days Homes have Sold for $101 per SF in this Area......
comps in area ; These Lots Sale for $95K to $225K all within a Half Mile of this Property

PRIVATE 4 or 5 Bedroom Beautiful Stone
about half mile from Multi-Million Homes
&only a quarter of a mile to Ft. Loudon LAKE
30' LARGE Glassed in Sun PORCH

Chain LINK Fenced Side .25+ Acre Yard for Pets, or Children
Big Front YARD also FENCED ; Clean up the Back for Horses, Pony, Goats, Cows & etc
GARDEN use the Neat OLD SMOKE HOUSE still usable
NICE operational CHICKEN COOP with FENCE

FREE ...50" & 44" SONY FLAT SCREEN TV's with the EZ purchase of this 5 Bedroom HOME
FREE ...New Maytag WASHER & DRYER
FREE... King Size Custom Made Log Style Bedroom Set
FREE .... Custom Made Mirrored Settee LOG Style
Free... ALL Kitchen Appliances
FREE.... almost NEW upright AMANA Freezer
FREE ... Microwave
FREE... Pie Safe & matching buffet for Kitchen
FREE........ 8 Chair, Table, Buffet, Huge Mirror Formal Dining ROOM set Pd. $7K

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! Please respond to our email address for more information or call…

Linda King, Owner

Legacy Asset Solutions

[email protected]

407-340-2319 cell EDT

OFF-MARKET DISTRESSED SALE - 21-Unit Multifamily Portfolio

12% CAP RATE @ $900,000 Asking Price

7 separate Tri-Plex Units $450 To $750/month - Financials and Rent Rolls available via email...

Current Rent Totals = 13385.00/month including water and electricity.

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! Please respond to our email address for more information or call…

Linda King, Owner

Legacy Asset Solutions

[email protected]

407-340-2319 cell EDT

Solid 9.36% Cap Rate @ $1,425,000 NON-PROFIT DISTRESSED SALE

Synopsis:  This rental portfolio consists of 30 units (4 duplexes, 4 quadriplexes, and 1 apartment building) throughout a lower working-class neighborhood just west of Federal

Highway/US-1 in the City of West Palm Beach, situated in Palm Beach County, Florida.

Previously used as low-income housing for veterans of the US Armed Forces, this

portfolio is being liquidated by the government-sponsored agency after losing its funding.

Even while the tenants are paying the previously subsidized rent rates, this portfolio

continues to perform at a solid 9.36% cap rate in today’s market! As a result, there is a

tremendous upside potential to raise rents to market levels. Tenants are generally upright,

responsible, and take very good care of the properties as shown in the attached pictures.

Upside Potential:  By making a few upgrades and repairs (~$20,000), filling the 3 vacancies, raising rents to market rates (~$100/month per unit), and putting professional management in place, this portfolio can easily perform at a 13% cap rate within 1 years’ time.

Financials and Summary Sheet can be provided for additional information!

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! Please respond to our email address for more information or call…

Linda King, Owner

Legacy Asset Solutions

[email protected]

407-340-2319 cell EDT

9.16% Cap @ $1,450,000 asking price

These properties are being made available by an elderly landlord who has owned

property in South Florida for over 30 years and after personally managing such a large

portfolio for so long, he is liquidating all his assets, including the 28 units in Riviera

Beach.

Highlights:

-Good Cash Flow -Great Upside Potential -High Historical Occupancy -Great Income & Growth Potential -Substantially Below Replacement Cost -Easy access to US Hwy 1, I-95, and Florida Turnpike -Close to Medical Facilities, Parks, Beaches, and Shopping

Upside Potential:

-Hire professional management.

-Raise rents to market rates...about $75 per month per unit.

-Fill 4 vacancies.

-Many new developments in area

-Properties located in government designated CRA and approved for tax credits and renovation grants.

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! Please respond to our email address for more information or call…

Linda King, Owner

Legacy Asset Solutions

[email protected]

407-340-2319 cell EDT

Hi Jason -

I think you touched on a great subject as many of us have, or are in, a similar boat...  Several years ago I had a mentor that basically told me that if your market is too difficult for one type, choose another (wholesaling - buying your own fix & flip).

The other advantage that we all have now is the ability to really do business anywhere with anyone!  Take advantage of your skills within another market - If you are great at locating distressed properties, then research in another area...

I connect with professionals all over the US, Canada and Virgin Islands... I try to be a good networker and help out where I can and this has served me well to make great professional connects all over.

Hope this gives you some ideas and I wish you great success in 2015!

Property consists of 3 buildings sitting on a 11,200sf lot with of two (2) 2-bedroom & 1-bath units, six (6) 1-bedroom & 1-bath units, and 3 efficiencies. The apartment units sit on a corner lot in the booming Greater Eastwood/East End/East Lawn area.

Asking Price:
$260,000 with $90,000 Equity

Estimated Cost of Repairs:
$25 to $35,000

About Repairs: Roof to be replaced on one building along with some broken glass and brickwork. Balconies and some wood rot will also need repairing.

Storage building could be converted to efficiency and laundry.

Rents are bringing in $4,250/month but is low with a potential of $5,500/month with the additional efficiency, repairs and laundry.

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly! Please respond to our email address for more information or call…

This is a 3-property package deal, there are two quads and one duplex, all attached.

Asking price is $430,000 and there is some room for negotiation. 100% occupied!

15% CAP RATE, 100% OCCUPIED, $64,000 NOI

DISCLAIMER: We are placing this property in the Marketplace for a contact of ours who holds the contract on this property and all serious inquiries will be introduced directly!  Please respond to our email address [email protected] for additional information. You can also call at 407-340-2319 on my cell.

Hey Joshua- I think as the New Year hits us all, it's a good chance to reflect and ask these types of questions!

My goal will be to assist more professionals in networking this year to help out - Without the expectation of getting something in return!  I tend to get too focused on the end game or seeing results all the time and have gotten away from something I really enjoy - Networking... 

Helping others, with no strings attached just makes us feel that we are doing some good in the world and I have gained so many great relationships from doing this one thing over the years!  Now, I want to get back to networking with like-minded professionals to try to assist THEM without expectations.

Thanks for poking at us to make us think...

Happy New Year Everyone!!!

LK

Our business has certainly seen more requests for financing options within the last 3 months so this was an interesting article find from John Okoye on Bank Managers seeking the same...

It is true that easier access to creative finance means business owners see more flexibility. So are the banks starting to adjust or are people combining non-traditional and traditional financing for their Projects???

Some of his points: Many experts have surmised that the unavailability of credit has played at least small role in the economy’s sluggishness over the past four years. John quotes Economist Bruce Yandle, “Right now bank lending is stagnant, and loan activity is always a indication of growth–new housing, new cars, expanding businesses, and more”.

Better Terms

If bank managers are correct, expect to have a slightly easier time getting credit for your business. While standards will almost certainly not be back to pre-recession levels, one would expect that they will be much better than they have been over recent years. In order to fully take advantage of this, shop around. Make sure that you get the best loan terms possible for your business.

Better Economy

Responders to the survey weren’t simply optimistic about lending for small businesses, they were bullish about lending for individuals as well. This means that in coming years we can likely expect consumers to have a little more money available to contribute to the economy. Many experts have suggested that increased lending has a direct correlation with the performance of the economy as a whole.

Of course, the availability of more money far from guarantees that it will be used in the right way. The truth of the matter is that many are still very skeptical of the economic conditions and are wary of big expenditures.

More Flexibility

The main benefit that easier access to money provides businesses is more flexibility. Because it is easier to get money, small businesses can now make better decisions. Less constrained by having little cash, they can do things that are better for the long-term health of the business without focusing solely on financing.

We see many clients utilizing a combination of financing to start, continue or finalize Projects! Our strongest recommendation is to make sure it fits your needs in a responsible way... Nothing is worse than seeing a new client who has previously gone too far into a situation that ultimately failed!