All Forum Posts by: Misty Hardin

SFH Under Contract as of 8-28.

Sellers are desperate to close by 9-14 (I have NOT promised this date, but am trying to make it happen)

I plan to BRRR and have vetted renters. Minimum Rehab Needed, looking for a Partner able to close NOW.

ARV $220,000 could sell now for $190,000, Under contract for $150,000. $!5,000 of rehab is a high estimate with a few upgrades to make the house stand out. Usual DOM in this area when selling average less than 20 days. I have renters that have already been screened and vetted and are ready to move in. Rent (special deal for extremely good tenants is $1600/mo)

Do you have any contractor quotes for all repairs needed?  What amount of work does it need to be back in top shape?   When was the last time that an appraisal was done on this property?  What amount does it appraise for?

What have you determined your ARV to be once repairs are completed? Btw, I grew up in Carthage.

@Mark Ferguson, in regards to the value, I think I was rather vague and I see where you would think I just took someone's word for the ARV. I actually did my own DD, and researched the area heavily.

As far as the 70%.... would you have recommended me walking away?

BTW, @GuyGimenez , even though I am deeply dissapointed that this deal isn't impressive ; I appreciate your feedback.  

OK, I have questions. 1. What would you have paid for this property?  2. When starting out with not enough experience or liquid capitol to make investors want to fund you 100%, how do I get started? 

OK, I have questions. 1. What would you have paid for this property?  2. When starting out with not enough experience or liquid capitol to make investors want to fund you 100%, how do I get started? 

@Guy Gimenez , 

It's actually a very hot market, close to University of North Texas and Texas Women's University.  Near major interstates, not very far from Fort Worth and Dallas and is projected to have growth in the next 5 years.     I understand your concerns completely, but please take under consideration that I am still a new investor, and actually decided to take a little loss on my profit in order to score what I KNOW will be profitable and a start to my career.  

Ladies and Gentlemen, I have an AWESOME deal and I have hit a bit of a roadblock.   I have an investor who will lend 90% purchase price and 100% of rehab.  Since I am a new investor, I need a partner or gap funder  willing to help me start out, and earn liquid capitol to continue.   The owners are in foreclosure, and need this closed by the end of March.  

8417 Stallion St, Denton, TX 76208 (More pics on Zillow)

5 beds 4 baths 3,980 sqft

Under contract for $379,500 

AS-IS value $425,000

ARV $525,000 -$540,000 (via realtor and fellow rehabber)

Est. Repair $25,000 or less (owner is wheelchair bound, and there is wear along many walls and some doors, and the wooden patio out back needs repaired along with some landscaping) 

Custom home on a heavily treed 2 acre lot is perfect for entertaining. From a game room

with a wet bar to the formal dining room. Perfect for sports parties or dinner parties.

Gourmet kitchen with stainless appliances, warming oven and granite counter tops. You will

love the real wood floors and you can see a tree out of every window. Movie nights are

wonderful in this gorgeous media room. Solid wood doors on each room and a stunning trim

package.

out.  

I just left you a voicemail.  Are these properties still available?  If so, please give me a call back at 903-263-8384.  I would love to talk to you and see how we can benefit each other on this deal.