All Forum Posts by: Todd Lee

Can't you Refi in 1yr- who governs this timing?

J,

The properties are located in Tulsa, Ok

Not in my immediate business model to buy and hold.

Would obviously prefer cash but would consider finance if contract was accompanied by a nonrefundable deposit.

I have 6 Income Producing Properties 4 sale, pls send me an Email if interested in collecting $1500 Passively [email protected]

Current mnthly Rents- $2600

Long Term Tenants

Property management available

Current Market Value - $225K

Asking Price - $125K & quick close

I am looking to sell 6 currently rented income producing properties, located in Tulsa, Ok. Although I have experience with other types of real estate transaction I am unfamiliar with how to establish an applicable sale price for rentals and would like your advice on what Landlord Buyers look for? I had my Realtor perform a quick value search as indicated below.

I have researched the following rates to be included in the Marketing Piece, is there any other criteria that these buyers will be looking for? I would like to discount for a quick sale (30 days or less) what price should I ask? where should I market for my buyers?

Gross Rents 2,600

Cap Rate- .08-.12%

Cash on Cash .80-.92%

Total Tax Value - 156K

Total Average Estimated Value- 245K

In my limited experience I understand certain Hedge Funds are currently in the business of purchasing low LTV Rental Properties. My Question is: if this is correct wouldn't they also look at Purchasing Lease Option contracts of similiar sort if the same LTV ratio's are about the same?

I appreciate all the detailed info you guys have provided me and I will continue to search for both note buyers for this candidate and other Retail buyers as we move forward with the renovations. Should anyone be able to point me in the direction of such Note Purchasers to work with I would be much appreciative.

Jon, I am the owner and currently rehabbing the property and received an offer contingent upon an owner finance arrangement being in place. I am not interested in longer holding periods than 6 mnths. The buyer will occupy the property and pick up the remaining renovation expenses from the date we enact the contract.Once it has been repair the value will increase to the referenced LTV ratio. I essentially looking for landlord to purchase the deal from me and reap the rewards.

Wayne, Not an owner occupant the property is currently being Rehabbed(Ruff in Phase).

Today I believe the LTV would be 92%, however once repairs are complete(as buyer has agreed to assume cost) the LTV would be 76%.

Forgive me if I calculate LTV incorrectly- I used loan amount devided by Current Value

So I have a buyer for a property that is currently under Rehab and I want to sell it to them but I am not interested in holding the Mortgage. Can anyone point me towards someone wanting to buy me out of the mortgage?

Purchase 199K

Monthly Payments -$1700

24 mnths

The Buyer is also going to Finish the rehab at his Cost- $20-30K