All Forum Posts by: Michael Johnson

Trumark financial is an option . They will refinance out of a hard money loan to conventional mortgage.They will do so to an LLC. What's the reason that its not selling? Whats the feed back of the homebuyers?

My advice to you is to remember that Fear is whats standing in your way. Process it,move past it and execute.

I'm sure you'll appreciate it in the future.

Hello Tracy are you interested in residential properties in Philadlephia?

This was 21 s 54 st. South of market st where the difference of a 200 feet can make the difference in 40-60k.

But with a few active listing north of market asking 220k+ this could open the gates for higher ARVs . Given the asking prices of shells north of market there'll be plenty of solid deals (purchase and renovation @ 60-65% of ARV ).
There’s a few now but not many.

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $100,000
Cash invested: $25,000

Philadelphia,Pennsylvania 3 bed 2 bath single family home.
See www.realtypropertyservices.com for pictures and videos.

What made you interested in investing in this type of deal?

There is a strong rental demand in this market and the fundamentals for long term appreciation are there.

How did you find this deal and how did you negotiate it?

Wholesalers and i did a site visit/walkthrough. After determining the rehab budget i made an offer.

How did you finance this deal?

25% of purchase price (25k) through a lender who financed the renovations.AC

How did you add value to the deal?

Renovated and modernized the property.

What was the outcome?

Property was renovated stabilized and loan was transistioned into a tradidtional fixed, increasing cashflow and allowing increasing of equity by the tenant.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

wholesalers