All Forum Posts by: Christian Beebe

Hey all,

We have three buildings side by side in Cincinnati that we need insurance on, for a total of 26 units.  Insurance needs to be in place by June 6th.

Appreciate any recommendations or contacts.

Sure thing, it's 3649 Besuden Court, 45208.  Renters are moving in June 1st so we are doing the rest of the cleanup next week before they move in.  

We've owned this house for 15 years, it was our first investment property and we have moved on to apartment buildings, so selling this.  

Property is an awesome Cape Cod located in one of the most desirable neighborhoods of Cincinnati...Hyde Park.  The house is always rented and is blocks from everything popular.  Typical renters are first timers out of college who have great jobs or couples without families yet.  

House is located at the end of a cul de sac and very quiet with lots of shade.  House was just started with new renters on a one year lease.

House features:

• Hardwood floors throughout, freshly redone
• Rookwood fireplace
• Freshly painted
• Awesome clawfoot tub
• Large front porch
• Full basement that could easily be turned into another room
• New HVAC
• New washer/dryers
• Huge walk-in closet in master
• Stainless appliances, fridge, stove, microwave, sink
• Tiled kitchen
• Newer roof
• Freshly landscaped

The houses in this area, next door and behind this one that are exactly the same go for $205k+ so when purchasing this house, you would have easily $40k in equity right off the bat.  Based upon the condition of the house and the numbers, this property is an excellent deal.

Cashflow based upon loan of $169k would be $500-600 a month.  

Tenants pay all utilities.

Taxes yearly $2400

Insurance $600 year

If needed, we could easily manage the property for you so you wouldn't have to find someone here.  

Reginald, just sent you an email.

Hello,

Have a simple refi looking to do on a property we have owned for 15 years. Single family home in a luxury neighbor in Cincinnati, OH. Just looking to refi to combine 1st with Heloc for one loan and to get rid of PMI. Currently rented on new one year lease.

1st - $139k

2nd - $20k

Comps/Value - $205k+

Currently rented (and always rented due to area) on one year lease just signed

Been doing real estate for 15 years

• When did you purchase it? Originally purchased in 2005
• Who has the current mortgage? Citimortgage
• Who has the HELOC? PNC Bank
• Brief description of any updates/renovations made after purchase? – Redid the hardwood floors, new kitchen, new outside paint, new roof (this year), waterproof basement, new HVAC (three years ago), new bathroom, new front porch, landscaping.

Just looking for $160k for refi, we do NOT need any money out.  Currently looking at standard lenders for 30 year fixed but would rather try here first.

Look forward to working with you.  

Christian

Villefranche Properties, Inc

Or better yet, it would be good to have something setup, like lending tree of sorts, where people could submit financial deals needed, based upon criteria/fields setup by lenders and then these deals would be sent to all lenders who would have noted to be interested at X levels based upon the criteria.  

That way lenders could easily gain more out of biggerpockets, gain a filtered view of deals they are interested in, and people/companies in need would not have to waste a bunch of time contacting lenders trying to figure out who is interested, etc.

Make sense?

Jack, I'll shoot you a message.

To BiggerPockets admin and such,

I have an idea and haven't searched everywhere yet on the forums to find this out but it would be REALLY helpful to institute some sort of feedback/rating system for hard moneys on your site.  It would not only make the lenders more aware they are being watched but allow existing customers to see experiences and such and save a ton of time trying to figure out who's good/who's bad, etc.  

Agree?

Thank you,

Christian

Columbus OH property we are looking to grab quickly, rehab within a month, rent out (which is less than two weeks in this region) and then sell to investor or other.

Purchase:18k

Labor Repairs: 7k

Materials: 5k

ARV: 86K
Rent: $1400
Taxes: $77.42
Insurance: $75
Vacany(7%): $98
Repairs(5%): $70
Property Man(10%): $140

$939.58 Net Passive Monthly Income

$11,274.96 Yearly Income

45% cap rate

So just looking for a quick close within 10 days, needing $40k at most, more likely $30k.  

Thank you,

Christian

Villefranche Properties, Inc

Jack,

Yes of course, very detailed on our end so whatever you would like to see not a problem just let me know as we use financial software to track everything.  You are more than welcome to email or message here and can send over what we have.  

Appreciate the response,

Christian