All Forum Posts by: Matthew Koch

@Gladimir Lobo that's what I am trying to avoid and do this with accurate math and integrity because it's apparent that when someone doesn't run the numbers well and or they send out a possible deal and leave our pertinent info then their reputation is usually exploited and flagged with notes from others to avoid said person and or stay away and do not do business with them.

Point is that I have always loved Brandon's approach and getting it right is super important to me. My issue is not having that person to bounce numbers off of or to confirm not just the market listed price but the recently sold properties as I don't have access to the MLS for comps....

I've seen Brandon's videos for comps and how to use Zillow and Trulia and or redfin to ball park that property and go for the lower of the offered price and then attempt the 70% offer minus the arv after that and go from there. Anyways I'm appreciate and thankful for any help or advice and perhaps I might hear back from you on asking questions for a potential deal I have to present right now. If it's a nothing burger then cool at least I'll be sure afterwards.

@James Guillot ok, I'm definitely willing to try and get it right. In fact, I desperately need to ask my full time job and my wife's full time job leave us in the hole each week for paydays and I need the practice and or incited to know how to structure deals properly and do not only wholesale but seller finance options and how to utilize a seller's equity when the property is 100% paid off.

If that's something you could help me with then I'm game to learn. I do have some knowledge and I'm almost there to have a complete picture but getting it right and having proof of concept to finish the deal is of course the goal but not at the expense of financial loss for me or the person I'm trying to wholesale to.

Thank you and I'll look forward to your reply.

@Cornelius Garland I would agree with you and I am always learning and growing for sure. I am trying to get my feet in the water for the wholesaling or creative finance deal aspect of it and will admit I struggle with the numbers and or who pays what in a deal structure. I have one possible deal right now and I would love to chat and or confirm if I have something here. If that's possible then I'll look forward to hearing from you!

Have a great day

Just wanted to run the numbers for this property that, yes, I've posted before as an attempt to wholesale to no avail, and now trying to see if I could get it for myself and flip it in two years?

Purchase price 360k 

current ARV is 490-520k

looking to be financed by me with JV or private money lender for 20% down, $72k plus rehab of approx. $90k to total $162k

maybe offer lender 12% with a note of 20 years, or 240 months equal 756 a month

total financed would be $181,440

property is 8 bedroom and 3 bathroom but could easily be 4th. 

I'm thinking student housing and 300 per bed and two beds per room or 600 per room and 4800 a month. Gross. Evaluate for 100 in water, 100 insurance, 400 property management and 100 for power to be billed back to the students as that's Included in rent for 300 per bed. 

4800 income, at 100% occupancy, 1717.19 mortgage based on 30 years and 4.2%, and private money lender payment of $756 

leaves $2326.05 to then take out capex.

not sure on those items yet for actual numbers on roof, heating unit or landscaping expense, however, estimate roof of 10k or hold back $168x5 years.

Leaving $2158.05

heating unit maybe $5000 or hold back $84 bucks. 

Leaving $2074

Water heater possibly $200-$1000 so hold back $17 bucks.

Leaving $2058.05 cash flow.

Unless I missed something, does this look right? $4800 income (100% occupancy), $1717.95 mortgage, private money lender $756, capex $268 a month is $2058.05 or $1029.025 at half vacancy. 

Maybe $100 a month for yard or lawn care or I'll manage that part of it myself.

Property Manager should take care of advertising and screening tenants as well as showing property and finally completing work orders as needed and billing me directly....

Is this a deal or walk away?

Thank you

Excellent. I'll check it out. Thank you, I appreciate it very much

Currently in the Twin Falls area and I'm looking for a good Bluetooth capable recording software as I drive it front and loader all day at my job recycling cardboard and twine so I'm terrible at taking notes and if I'm on a call with somebody to talk about real estate I can't always stop and write that information down but I would like to invest in a pro recording software that has clear audio even if it's $10 a month I don't care I would like to find a recommendation for what other people are using preferably on the Android network as I've tried a2p recording, I've tried black box, I've even used the free stuff for record this And it seems there is an issue with the actual recordings not being processed for playback to hear them. As I mentioned I'm on an Android device using a Google Pixel 4a model and my earbuds are Klipsch brand, McLaren edition, on the Verizon network. So feel free to reach out to me and let me know what software to use and in return if there are people that don't have time to call people back such as leads that you're not able to take and they are being sent to a voicemail service maybe instead of hiring a virtual assistant in another country feel free to hit me up If you have a script you want me to read I'll do that I'm trying and testing that out right now for a person who is investing in or from Utah but they're looking in the Florida market. So the trade-off is I would call this cold call for them and I would talk to them fill out the information get as much info as I can about the house for that lead and then have these questions checked off and answered to see if it's a good deal to pursue because I have time on my hands Yes I have a full-time job 10 hours a day but that is what I'm able to offer so if you are in the Twin Falls area or surrounding areas or Boise or technically anywhere I'd be willing to jump in and help with that portion of it if people need me to All that I ask is for a couple of things One to hone in on my deal analysis because honestly I'm kind of bad at that right now Also the rehab factor for estimating repair costs on properties and then one final thing is of course knowing the market value of a property and that's more of an MLS type of thing and I have a couple of people I can reach out to but I'm looking for those three things. So let's work together find a match see how we can help each other and let's make some money!

Is it possible to lock down a deal to where If i put in my earnest money deposit and I find the back end buyer and they only want the property at 300k and the seller wants 360k, can I or am I legally able to make it create a note, or do I need a mortgage originator, to then close on the deal for 375k for my profit of 15k, the seller gets their 360k and the backend buyer would purchase at 300k from me? Meaning the terms of the note would be that I hold the note and carry it for 5 or 10 years and allow the seller to move out, backend buyer come in and rehab the property, get it sold at an arv starting at 490k and up 525k, then when they are done and completed then the contract is paid in full and everyone is square from there? If not then this deal is not such a deal after all.....

 I did already reply to you and personal message. Also I agree and you are correct that is a slim deal and I would be willing to work with somebody just for getting that out there to have a little something that nothing at all and if it is 5K then I could be happy with that. Ironically this is just one of those deals that I had spoken to the seller first and I was going to get it under contract personally and he literally told me he would give me a week and the very next day he talked to a realtor and the realtor told them that he could get 20k more And that's why I was on the ML last listed at 400k because the buyer wanted more money than what it is currently worth in the houses state and current condition and the fees involved now with that realtor and such.... All I'm hoping to do now is to get beds for actual rehab estimates and hoping that I'm not even close to that 50k rehab budget because a good portion of the materials to finish it is already there not all of it but enough to cut down on that cost for sure.