All Forum Posts by: Stephen Chatto

Are you ready to create some INSANE Cashflow?.

How about this 3 Unit at 48 Hudson st in Trenton NJ with the potential for over $4000 per month income?

This property is 4000 Sq Ft and the two residential Units are already rented and will come with a clear c/o for the new owner. There is a 1 Bedroom rented for $750 per month, and a 3 bedroom also rented below market at $750 per month.

The commercial space is approx 2500 Sq Ft and should easily demand $2500 per month after rehab (30 to 40k).

Did you make a note of the location? See it’s proximity to the train station? Are you familiar with that area? Don’t forget the potential appreciation in that area.

Want more information on CASHFLOW?

Before Renovation:
Annual Income : $18,000
Annual Taxes : $6,868 (est)

After Renovation :
Annual Income : $48,000
Annual Taxes : $6,868 (est)

Value Ads:
1) Increase below market rent on the 3 Bedroom
2) Complete Renovation on Commercial Space

We are only asking 100k for this smoking hot deal. Even an over budget rehab would put you all in at under 150k on this property. $4,000 per month for 150k should be a no brainier for you.

Call Us for details 267-580-9017 or click here for more info.

Check the pics, Call for appointment – at only $100,000 this is a Smoking Hot Real Estate Deal. Act now before it’s gone!

Do you need more money to FUND all of your deals? 

If you're anything like me, then the answer is absolutely YES! That is why of any meeting you attend this year, this one is the most important.

Goto our Meetup to RSVP: http://www.meetup.com/MercerCountyInvestors

This is your opportunity to learn how a local investor raises huge amounts of private money to fund all of his deals!

We have presenting Paul Margaritis from Global Equity Group

I have seen Paul's Presentation and he holds nothing back. He will take the time to answer all of your questions and show you how he has built his portfolio through raising private money.

If you are serious about raising the fund you need for your deal this is an event that you can not afford to miss!

Things you will learn:

-Who are private lenders?
-How much interest should I expect to pay a private lender.
-Where do I find private lenders?
-What are the rules I need to worry about when raising private money?
-What documents are needed?
-How to build relationships with private lenders.
-What do the conversations with private lenders look like?
-And an opportunity to get ALL of your questions answered by paul.

This Meeting is in Conjunction with Diversified Investors Group. We have recently Launched in Mercer County so NON-MEMBERS are welcome at no cost. 

I am working on a deal in Wilkes Barre, PA. I am looking for a strategic partner to JV with me on this deal.

The Purchase Price is 910k.   

The property is a 2 acre commercial site with warehouse/loading docks, showroom, and office space.  

The tenant has been there for quite some time, but about 1 year ago got bought out by a NSYE company.   At that time they signed a 1 year lease.   The new owners liked the location and re-upped for another 5 year lease this year.  The income goes up about 2k per year and the tenant pays for EVERYTHING.  No Expenses.   It is a construction supply company.  

The property just recently got a 500k loan on it at 4%, 5yr Balloon, and 20 year amortization.  That loan is non-recourse loan with no personal guarantee, and can be assumed in the deal.  Payments on the loan are like 3k per month.  

So if you know anyone looking to work with me and JV on the deal, Please let me know, and we can get into the details a little more.

Thanks, 

Stephen Chatto

This is a MUST ATTEND meetup for anyone involved in Real Estate looking to take their business to the next level. We have @Matt Faircloth from the Derosa Group Speaking. He was featured in episode 88 of the biggerpockets podcast, regularly blogs for biggerpockets, and has structured many amazing deals in his ten years of real estate!

Click here for his BIO

Click here for his BiggerPockets PODCAST

Click here for his BiggerPockets BLOG

Meeting Info:

Matt has promised he will stay as late as he needs to make sure everyone who attends gets is able to find a solution to the roadblocks in their business. He is an outside of the box thinker and has promised an extremely interactive meeting that will focus on the action steps need to bring your real estate investing business to the next level. Get a jump on the new year and hit 2016 running. Make 2016 your best year ever.

NOTE: This WILL NOT be a typical Let's set some goals and action steps in place thing! This will be a let's look at the stops in your business and how to creatively overcome them to bring your business to the next level thing)

That's why it is hard to find good deals with traditional financing.  CASH is king.  That being said, have you considered reaching out to sellers directly rather than through an agent?   Then you can save a lot of money because the seller does not have to pay an agent and you would be willing to pay more then your "ALL CASH" competition.  Might be worth spending a few bucks on marketing and finding your own deal. 

 They are two contracts that work in conjunction with each other really.  

The purchase and sale contract (I use the state contract) is between buyer and the seller.   This contract outlines the terms of the purchase.   How much is the earnest money, How much is the purchase price, when closing should take place, what the inspection and other contingencies are basically spells out everything regarding the purchase of the property.  

Make sure in your purchase and sale agreement you reserve the right to Assign the contract.   This is where the second contract comes into play.  The Assignment contract. The Assignment contract spells out how much the end buyer is paying you in return for you assigning your interest in the purchase and sale contract to them so that they can buy the property in your place.  The assignment contract assigns the contract from you as the buyer to the new buyer.   And they are accepting all the terms of conditions of the original purchase and sale contract between buyer (you) and seller.  

One of the terms that should be spelled out in that purchase and sale contract is who is paying what.  So the purchase and sale contract spells out who is paying closing costs, realtors, lawyers, city inspection fees, etc etc etc.   I am in Central NJ and we typically use title companies to close.   So if the seller wants a lawyer that is on them, and I spell out all of the closing costs being paid by the buyer. 

I would definitely listen to the video in the link that I posted above.   It was pretty good stuff.  And maybe talk to a lawyer, as I am not one.   I could recommend a good one if you like.   

Stephen Chatto

@Karl Krentzel - Don't you have a website about wholesaling as an agent?

Also.  This was a good Video on some legalities of wholesaling in NJ

:)

http://www.reiunite.com/podcasts/video-podcast-5-chris-goodson-legalities-of-wholesaling/

Usually the Cash Buyer inspects the house.   Your inspection means nothing to them.  

I wholesale properties in NJ.   I personally recommend that you use a state contract, and then a simple assignment agreement.   North Jersey often closes with attorneys, and south with title companies.  

What section of NJ are you in?