All Forum Posts by: Ozzy Smith

I have negotiated multiple properties with various sellers (and got excepted more than I expected) for my own personal portfolio, and simply can't take on all of them at this time.  I'm willing to part ways with some of them at good prices and have a lender willing to give long term financing on them if bought as a package deal.  All properties are in C neighborhoods in Dayton and a property manager willing to take them on for a new investor.  If you are interested get in contact with me and I'll send the numbers to you directly.  A contract must be in place by 4/20/18 to secure the deals.

@Darrin Carey thanks for the plug. 

I have worked with many oos investors in the past and am more than happy to help anyone that is looking at the Dayton market which IMO is the greatest place to invest 

does that say negative $70/m?

@Carlos Rovira

like @Christina Carey said, that price is ridiculous and so is the rent estimate.  I constantly buy in similar grade  neighborhoods around Dayton all in around 30-40K for 3 BR houses that rent in the 700-800/m range.  If you buy that deal, let me know.... I'll send you a bunch more lol. 

thanks @Brian B. Simmons I'll look into that

@Simmy Ahluwalia I’ll send you my contact info and we can talk. We are right on the edge of that and will depend on our appraisal 

For all of those asking for details I promise I will contact you but I need you to email me with your contact info so I don’t lose track of you. 

For Everyone else maybe this will help. Basically I am looking to set up an LLC that the property that we purchase will hold the title. Each partner will own a percentage of that newly formed company and the profits will be paid out quarterly as dividends. That is the basic gist of how it will operate. Anything as far as the numbers you can view by clicking the website in the original post and see what it looks like.

I am getting tremendous response to this so just bear with me and I promise i will be in touch soon

I personally never look at a house until I have an excepted offer.... it's a waste of time.  I look at the pics and try to guess at what I believe it will take to repair it (plus add a little) and then set a 7 day inspection period upon accepted offer.  This keeps me from wasting time with contractors and estimates and offers and driving all over town on properties that turn into a bidding war or just a seller testing the market.  Only look at pretty good deals and stop wasting time chasing listings that will never sell close to where you are willing to pay.  With an inspection contingency (which is pretty standard) you can then go with your contractor/inspector and do a thorough analysis of the property and know what you're getting.  If you see anything that exceeds your budget or comfort level rescind the offer and as long as you do it within your inspection period no harm done.

I am currently looking to cash out some equity on rental properties to acquire more cash flow cows.  I am looking for long term financing preferably 10-15 year fully amortized,  or would go longer if someone is willing.  Here is the scenario with nothing hidden.

$30K Loan amount

$40K Appraised value or higher

$750 Rents

$460 True Cash Flow after expenses and factoring 20% for cap x and maintenance and have cash reserves

Title held in an LLC owned by 2 partners

Partner 1 owns 65% with $80K/yr w2 job and 700 credit scores

Partner 2 owns 35% self employed and mid 500 credit scores (has 4 years experience as a professional RE investor)

We are looking to build an ongoing relationship with a funding partner to be the back end of our BRRR. We use 100% of our own money to purchase, rehab, and then rent out the properties. We would like to refi into long term loans and repeat the same process multiple times.

If you are the right fit for our funding needs please send me an email with terms and conditions and I would love to talk with you soon.

Ozzy 

@Jim Goebel I'm in the Dayton OH market and looking at C neighborhood rentals that need light repairs only.  The quality wouldn't be sacrificed because they are only quick handyman type repairs generally and not high end skill jobs.  It's pretty easy to do multiple when it's quick easy fixes.

@Shawn Ward I think that is great advise.  I would love to show someone around for a day or two so they can see the vision.  I would only be willing to do this with someone who has a very similar attitude towards real estate as me and have pretty similar goals in mind.