All Forum Posts by: Simone Silvera

I am interested in purchasing the property. I am thinking about doing a Hard Money or a loan from the bank. The property is $229,900, ARV is 500+K, Rehab is $150 to $200K.

The main house, the in-law suite, and the 2nd house will be rented. Totals cost will equal to $6,000. 

I tried to do the hard money lending calculation but I think the calculation is wrong.

The house is a 2 in 1 on the same property with a in-law suite and the asking price is 229,900. Repair is 150 to 200K (it is a full repair). ARV is 500+K. Using a Hard Money Loan

Based on income, expenses, and other information provided, the maximum purchase price you could pay for this property would be -$437,280.00. This would allow you, the wholesaler, to make a profit of $200,000.00 and allow the landlord to pay -$237,280.00 and achieve a return of investment of 100.00%.

60 days (renewal or not planning on renewal of lease). 

You can write up a letter explaining that you will not renew with the primary person  or two people that are living there on the letter, including the original lease date and the expiration date. Date your letter

Example:

Re: tenants

Tele: Tenants #

Date:

Property address:

Dear xyz,

Example (only need 3-4 lines). You can quote information for the leasing agreement

Sincerely,

xyx

Also, make sure to mail the package certified or with a green card to have has proof, but take a picture of the package and ask the USPS to stamp the package with a date before taking a photo. I prefer the certified because most tenants tend to not sign and mail back the green card.

Interested in learning the same thing 

60 days (renewal or not planning on renewal of lease)