If it is available, I want a copy

If you plan on trying to figure it out yourself, you should be able to get a copy from the township websites. 

So, give them money to move.Bought for $157,100.38 ****** ARV$245,000.005 bed 3 bath – Phoenix AZThese are the numbers from the HUD statementBought for $157,100.38 ****ARV$245,000.00Existing Loan Amt Payoff $118,145.37*Subject To$118,145.37****Closing Costs From HUDTitle$1,045.00Escrow$1,400.00County Taxes$538.38Recording Fee$120.00Cash to seller$10,000.00Misc other charges$525.00Total Amount Due $$13,628.38***Arrears To Bring Account DueTotal Number of Missed Payments:11Total Payment Amount$10,095.47Unpaid Late Charges$146.84Additional Amounts:Foreclosure Fee/Cost$354.19Unpaid Advance Bal$1,101.75Total Amount Due $$11,698.25***FHA Loan Mod 2nd$11,582.44***My Out of Pocket$36,909.07***Total Cost Basis of Purchase$155,054.44ARV (After Repair Value)$245,000.00Repairs Post Purchase$ 5,000.00 +/-Unrealized Profit$84,945.56***Equity (ARV minus Subject To payoff)$126,854.63***I strongly recommend having 3 months reserves as follows:Monthly Mortgage$917.77(Taxes included)Electric Monthly$362.21Water & Sewer Monthly$102.80HOA – None$0Reserves3 months mortgage payments @ $917.77 per month = $2,753.313 months Electric payments @ $362.21 per month = $1,086.633 months Water payments @ $102.80 per month = $ 308.40 Minmum Reserves Total $4,148.34Then I turned around and sold it on a Lease Option for $265,000 getting $20,000 down on a nonrefundable Option fee, and rent of $1,900 a month.

I asked for ad copy and accountability of all adds and money I spent, only to be ignored.

OBTAIN SOURCE DOC FINANCIALS (RR / T12's / AR / CAPEX): Bare minimum, get copies of the rent roll, trailing 12-month financial statement, and aged receivables report from the owner/broker to enter into your personal property analysis model.

Sold our third lot.  

Should you or your counsel choose to proceed in this direction, I am fully prepared to assert those rights and respond accordingly.Finally, since your attorney was copied on your original message, I suggest that legal counsel focus their attention where it is most urgently required: on the dozens of investors who report being owed significant sums, many of whom are months past due and organizing for collective legal action.I decline to retract my statement and reserve all legal rights available to me.Sincerely,Daniel Desrosiers Nice !

Number one, get a copy of your covenants and bylaws ASAP!

Made a post on a Self Storage forum and copying for info purposes.A.

If you’re curious about the model/assumptions or want a copy of the spreadsheet for educational use, please send me a direct message and I’ll share a read-only version after a quick intro.This is intended as a learning post for investors evaluating STR vs long-term multifamily economics.