All Forum Posts by: Solomon Oh

@Tim Herman Thanks for taking a look.Its actually a 4Plex. The numbers for utilities were those provided in the financial package sent over. Because the idea is to rehab the units, increase rents and throw the property back on the market as a cashflowing unit. The expected CAPEX on this project would be around 25k unit; with an additional 40k to take care of the exterior of the building. We would also likely have to do cash for keys with 3 of the tenants with expected pops of about 50k/tenant.

All in all we're looking at:

CapEx: 140k

Cash for Keys: 150k

I'm not sure i'm using the calculator correctly to model this financially.

Thanks,

SD

 Hi Brian-

I live in the South Bay. The house on County records is a 3/1 with about 1500+ square feet.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $331,717
Cash invested: $39,000

A single family home that we found in the bay area through a relationship we had with an agent.
The house had tenants that were not paying rent so the owner decided to sell the property rather than work through the challenges.

What made you interested in investing in this type of deal?

The immediate equity realized through the purchase as well as the cost to own it being next to nothing.

How did you find this deal and how did you negotiate it?

My partner and I found this deal through a relationship with an agent.

How did you finance this deal?

A portfolio loan through Kiavi.

How did you add value to the deal?

We haven't yet, still working on the remodel/renovation of the property.

What was the outcome?

Own a house with a great equity position and doesn't cost us to much to keep.

Investment Info:

Condo fix & flip investment.

Purchase price: $447,000
Sale price: $583,000

Condominium Renovation found through Cold Calling.

What made you interested in investing in this type of deal?

I like easy in n' out deals where I can minimize risk.

How did you find this deal and how did you negotiate it?

Cold Calling, following up and building a relationship with the owner.

How did you finance this deal?

Iron Bridge Hard Money

How did you add value to the deal?

Simple Renovation (less than 17k spent)

What was the outcome?

Profitable venture.

Lessons learned? Challenges?

Set expectations correctly with contractors/subs.
Be a truth teller and a truth seeker.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hi All- Is this the correct calulator to use to underwrite a multifamily-flip? Ie purchase, cash for key tenants, renovate|remodel, sell? Thanks!