All Forum Posts by: Michael Lee

Ok the comps are in the $220-$230K range 

Hello All, 

Looking for advice on the numbers of this Duplex I have been analyzing the past few days. Currently not being rented and it needs some minor repairs. Here are the details. I'm looking for cash flow on this deal to build my portfolio. Is this a good deal to pursue?

Market CAP Rate: 7% | Mkt Rents: $1100-$1200 | Duplex: 2 2BR/1BA Units

Pro Forma Numbers 

GOI: $28,800 

Effective GOI: $25,920

Total Expenses: $10,400

NOI: $15,520

Debt Service: $12,427  Based on$165,000 Purchase price. @ 20% Down 5% Interest 30yr Amortization 

Cash Flow: $3,176 

CAP Rate: 9.46%

Owner currently looking to sell property off-market to an interested investor currently rented @ $850 (below mkt rents) on a month to month basis looking for a quick quiet sale if your interested send me a direct message 

Current Owners looking to sell two homes on one lot the structure is frame/stucco has been vacant for a while both properties will need a total rehab inside and outside of the property est. 50K each property to be safe. There is a home on the same street similar in size available for sale for $124,900. Serious cash offers only they are looking to sell pretty quickly. 

@JonHuber I have done a fair share of wholesaling already I'm looking for a Capital Investment partner I have a small team in place just looking for someone to help with financing a deal 

These parcels are zoned C-1 which means you can build nearly anything! You have the option to divide the parcels or join them together just to give you an idea of the options are a Rehab Facility, Gas Station, Multi-Family, Manufacturing, Senior Facility, or Church the options are there. Contact me for details.

Asking Price: $299,000

Lot Size Sqft.: 7,062 each 4 Parcels Total

Location: West Palm Beach, FL 

Hello, All 

Currently seeking a fix-n-flip partner in South Florida specifically in Palm Beach County, if your interested contact me directly and we can set a 10 minute meeting to see if our interest are aligned and how we can work together. 

@Cesar Sanchez if your looking for anything in particular in West Palm Beach don't hesitate to reach out 

These parcels are zoned C-1 which means you can build nearly anything! You have the option to divide the parcels or join them together just to give you an idea of the options are a Rehab Facility, Gas Station, Multi-Family, Manufacturing, Senior Facility, or Church the options are there. Contact me for details. 

Asking Price: $299,000 

Lot Size Sqft.: 7,062 each 4 Parcels Total

Location: West Palm Beach, FL 

Off Market Investment property which contains a 3BR/1BA main house with additional mother in law suite with full bath in the rear of the home. The property also has a pool. Needs some minor TLC such as paint, carpet, landscape etc. currently occupied by tenants of 5 years who pay on time. All electrical is up to code only needs cosmetic fix ups 

Contact me for additional details 

Michael R. Lee