All Forum Posts by: Pat Saunders

3 bedrooms, 2 bathrooms
Purchase Price: $100,000.00
Purchase Closing Costs: $1,000.00
Estimated Repair Costs: $175,000.00
Total Cost of Project: $276,000.00
Projected After Repair Value: $430,000.00
Profit & Projections
Total Projected Pre-Tax Profit: $107,645.16
Total Personal Cash Invested: $278,245.16
Holding Costs Per Month: $2,403.33
Return on Investment (ROI): 38.69%
ROI (Annualized): 78.45%
Profit if held for...
45 Days $118,111.29
90 Days $114,622.58
270 Days $100,667.74
Property Information
Loan Amount: $220,000.00
Cash From Borrower At Closing: $56,000.00
Loan Interest Rate: 11.0%
Sales Price after Fix Up (ARV): $430,000.00
Real Estate Agent Fees: $25,800.00
Other closing costs:
Total days held: 180.0 days
Monthly Expenses
Mortgage Payment: Electricity: Gas: Water/Sewage: Garbage: HOA Fees:
$2,016.67 $150.00 $150.00
Insurance: Property Taxes: Other:
$45.00 $41.67

Contact me if interested or for pics

@Brian Gibbons, thanks for such a quick response. We sort of ruled out lease option since the lease with the tenants is fairly new about 10 months left. We need some help with the monthly payment amount of the note with the seller, good terms interest and/ or balloon, an exit strategy to make a profit either immediately or long term?

ARV is about $130k. Rents for $885. Mortgage on the home is $52k mortgage payments are $521.81

Hey BP! My name is Pat. I've been a member for a while and have recently decided to take some action and acquire my first buy and hold property.

The home is in an Atlanta suburb and asking price is 85K. My agent states there is no true ARV for the neighborhood, therefore, we have to work off "as-is" value of 113K-120K. I know I need to purchase home at about 65K-70K of the ARV but I'm not sure what that is. I estimate repairs conservatively at about 25K.

I've reached out to some HML's and received my first approval. I welcome the opinion of other RE investors who have used HML's and help me analyze whether this is a common offer for a newbie investor as well as how I could possibly make it work? The offer I received below:

Loan Balance: $105,000.00
Loan Interest Rate: 5.00%
Loan Term: 1 year
Monthly Loan Payment: $8,988.79
Number of Payments: 12
Cumulative Payments: $107,865.43
Total Interest Paid: $2,865.43

Note: The monthly loan payment was calculated at 11 payments of $8,988.79 plus a final payment of $8,988.74.

Thanks in advance,

Pat

Hi BP! I have been self-educating myself for a while and decided to start out wholesaling. I have a motivated seller with a 2000sq ft 3/2.5 ba townhome in zip code 30331. Sellers mortgage payment is $1100. Bought for $160K in '07 and kept mentioning short selling for $80K. Payments are not current. Seller would not disclose how far behind payments are. Seller states immaculate condition but AC unit was stolen. Is there anyway to work a deal here?