James Amon

MISSION STATEMENT: Create structures and spaces that stretches the limit of our technology and advances design methodologies. GOALS & TIMEFRAME: End goal Create a financially and environmentally sustainable real estate development company that is on the cutting edge of design and technology using the strategy of long-term property hold. Stat goal By the end of 2017, I have a rental property in contract and closing on the deal. Immediate goal By the end of 2018, my passive income will cover all of our expenses. Intermediate goal/s By the end of 2019, my passive income have doubled from previous year. Purchased a land and plans/drawings are starting for a multi-family building. I’m working for myself or working towards finishing the experience requirement for architecture. By the end of 2020, our passive income are at least $15,000 a month. Construction are on the way for the first development. Another multi-family development is on the way, including our own primary house. STRATEGY: BRRRR - buy rehab rent refinance repeat MARKET: For the development side, my market is the upper-middle class to upper class. For rental acquisition, properties that are considered B class will be the market. PROPERTY CRITERIA: Loan-to-value - Cash-flow requirements - at least $100 per unit. Max purchase amount - Max rehab amount - $20,000 Max timeframe - 6 months before refinancing. Town/Area - San Diego County Neighborhood - Type B and above Property Size - up to 4plex Lot Size - N/A Property Condition - Fixer upper or better. No major repair like foundation damage or any structural. Cap rate - Cashflow - at least $100 per unit after all expenses. Appreciation potential - +40% after repair Rule of Thumbs: 0.75% Rule - 0.75 of purchase is the rent monthly. (ex: 100,000 x 0.0075 = 750) 70% Rule - Pay 70% of ARV - Repair cost (100,000 x .7 = 70,000 - 10,000 repair = 60,000 purchase price) MARKETING PLAN: Use MLS or Redfin FINANCING DEALS: I'm open to conventional, seller financing, hard money, private money. EXIT STRATEGY: Buy & Hold BACKUP PLAN: Hold or subsidize property with own salary while waiting for refinance. TEAM Mentor - Mortgage Broker/Loan Officer - R.E. Agent - Attorney - CPA - Contractor/Handyman - Insurance Agent - Escrow Officer/Title Representative - Property Manager - BUSINESS ENTITY: LLC? Corporation? FINANCIAL STATEMENT: